Development Bank to give loans to companies for redevelopment of ger areas

2019-01-10 18:10:42

Ulaanbaatar /MONTSAME/. The authority of the capital city held a meeting with the First Deputy CEO of the Development Bank of Mongolia Ch.Enkhbat. In the meeting, the First Deputy CEO of DBM have announced that the bank will give loans to companies in the frameworks of the project on redevelopment of ger areas.

Head of the Ger Areas Infrastructure Department Ch.Batbileg noted that it has been approved for 1516.6 hectares of area (14 percent of the ger area) to be divided into 25 locations and 76 neighborhoods, and highlighted that apartments for 7,227 households have been built for the project. He then said, “As according to the general plan that has been partially approved, a total of 961 apartments for 89,968 households are planned to be built. With its completion, 41.5 percent of the households in ger areas would be able to live in apartments.

During the meeting of the Citizens’ Representative Khural Presidium, Chairman of the Citizens’ Representative Khural S.Amarsaikhan also announced that the Policy Council on Apartments, Infrastructure and Urbanization has been established, which will study funding opportunities for projects and programmes and solve issues on the policy level. The Chairman continued on by saying, “The capital has also established the Investment Fund, in which MNT 5 billion has been allocated for this year. To define the long term development policy for the city, the Research Institute for Urban Planning will be established to consider the urban planning on the same level as the global standard with the participation of researchers and experts.”