Board of Millennium Challenge Account of Mongolia meets

2018-12-14 16:42:28

Ulaanbaatar /MONTSAME/ The first board meeting of the Millennium Challenge Account of Mongolia (MCAM) took place at the Ministry of Foreign Affairs on December 13. During the meeting, the board decided to approve the rule and organizational structure of the MCAM.


In compliance with the MCC Compact signed by the Government of Mongolia and the Millennium Challenge Corporation (MCC), the US is to render non-refundable financial support equals USD 350 million to improve water supply of Ulaanbaatar city.


Following to the Government Resolution no.297 issued in 2018 in accordance with the MCC Compact, the state-owned MCAM was established to exercise the rights and implement obligations of the government and MCAM board was approved.