Улаанбаатар
Budapest offers EUR 25 million credit to Ulaanbaatar
PoliticsUlaanbaatar /MONTSAME/ The UB Mayor S.Batbold received today (August 5) Dr Gabor Bagdi, the Deputy Mayor of Budapest in charge of finance. The sides discussed about deepening the cooperation between the cities.
Dr Bagdi handed the Memorandum of Understanding on Cooperation between Ulaanbaatar and Budapest, inked last December, to the new Mayor.
A company based in Budapest have commenced negotiations with the Water Supply and Sewerage Authority of Ulaanbaatar on cooperating in improving the distribution of drinking water and renovation of pipelines, during the Hungarian PM’s visit to Mongolia in 2015.
The Deputy Mayor of Budapest noted that the negotiations will continue in the form of action, and expressed interest in opening a EUR 25 million credit line to Mongolia.
In the margin of the credit financing, the projects on bus fabrication factory, on construction of floodgate at River Tuul, improving ecosystem, building of recreation centers, and the “Smart Ulaanbaatar” and “Smart Village” programs.
