USD137 million to be spent on Ulaanbaatar-Darkhan new roadPolitics
Ulaanbaatar/MONTSAME/. At its meeting today, the Cabinet deputed Minister of Finance Ch.Khurelbaatar to sign a loan agreement of the ‘Ulaanbaatar-Darkhan auto road project’.
During the plenary meeting of Parliament dated September 18 this year, it was resolved to construct 202km new paved road between Ulaanbaatar and Darkhan, which will be financed with soft loan of EBRD worth USD137 million. The loan repayment term is 18 years, with moratorium period of four years and LIBOR +1%. Construction work of the two-way and four-lane road will start next year.