Loan agreement established with Japan ratifiedEconomy
Ulaanbaatar /MONTSAME/. At its regular session held today, the Parliament approved the draft law on ratification of the COVID-19 Crisis Emergency Support Loan Agreement between the Government of Mongolia and the Japan International Cooperation Agency (JICA) which was submitted by the Standing Committee on Security and Foreign Policy.
The loan of JYP 25 billion or USD 233 million which will be financed by the Japanese side will be spent to stimulate the economy, protect public health, support livelihoods, sustain incomes and improve social security.
63.8 percent or 44 out of 69 participating members of the Parliament supported the bill on ratification of the abovementioned agreement.