Ulaanbaatar
General program on funding to be consent with Parliament
Politics
Ulaanbaatar /MONTSAME/ The Cabinet Meeting held Wednesday discussed a draft general program on financing to be established between the Government of Mongolia and the Asian Development Bank. It will be consulted with a relevant Standing Committee of the parliament.
The Government of Mongolia and the Asian Development Bank agreed on partnership strategy in 2017-2020, to cooperate in agriculture, finance, health, employment, nature protection, education and social sectors. ADB will allocate financial source of USD468 million to Mongolia in 2017-2018, USD404 million out of it will be financed from ordinary capital resources and USD64 million from concessional ordinary capital resources. The 2% interest loan will be repaid in 25 years, with exemption from loan principal repayment for the first five years.
The projects to be financed from the loan will focus on economic diversification, improvement of business environment, stability of social protection sector and creating jobs.
The Government of Mongolia and the Asian Development Bank agreed on partnership strategy in 2017-2020, to cooperate in agriculture, finance, health, employment, nature protection, education and social sectors. ADB will allocate financial source of USD468 million to Mongolia in 2017-2018, USD404 million out of it will be financed from ordinary capital resources and USD64 million from concessional ordinary capital resources. The 2% interest loan will be repaid in 25 years, with exemption from loan principal repayment for the first five years.
The projects to be financed from the loan will focus on economic diversification, improvement of business environment, stability of social protection sector and creating jobs.
B.Ooluun
