Ulaanbaatar
MCC Second Compact Agreement talks wrap up
Politics
Ulaanbaatar /MONTSAME/ As a part of his official visit to the United States, Foreign Affairs Minister D.Tsogtbaatar met with Acting CEO of the Millennium Challenge Corporation (MCC) Jonathan Nash and other officials to finalize the Second Compact Agreement to be established between the Government of Mongolia and the MCC. Present at the talks were representatives of corresponding Ministries and Agencies headed by State Secretary of Ministry of Finance.
Funding of non-refundable aid of USD 350 million to be granted under the Second Compact Agreement, will be spent on a project to increase water supply of Ulaanbaatar city and the parties are ensuring preparation to establish the agreement during a bilateral high-level meeting.
The first MCC compact was a five-year USD284.9 million agreement and six projects were implemented in 2008-2013, designed to increase economic growth and reduce poverty by investing in property rights, health, vocational education, energy and environment and transportation.
Funding of non-refundable aid of USD 350 million to be granted under the Second Compact Agreement, will be spent on a project to increase water supply of Ulaanbaatar city and the parties are ensuring preparation to establish the agreement during a bilateral high-level meeting.
The first MCC compact was a five-year USD284.9 million agreement and six projects were implemented in 2008-2013, designed to increase economic growth and reduce poverty by investing in property rights, health, vocational education, energy and environment and transportation.
B.Batchimeg
