Ulaanbaatar
Parliament ratifies EUR 5 million loan agreement
Politics
Ulaanbaatar /MONTSAME/ Parliament ratified a Mongolia-Germany loan agreement on January 26, which will fund the completion of the New Turbine for Darkhan Thermal Power Plant project, being implemented within the Energy Efficiency -I Program.
As such, the Mongolian Government will obtain EUR 5 million loan within the Mongolia-Germany Intergovernmental Agreement on Financial Cooperation in 2016-2017 for the Energy Efficiency -I Program, and an Additional Loan and Second Project Agreement between the Government of Mongolia and KfW Development Bank based in Frankfurt.
The sides agreed on a 30 year-term loan with an annual interest of 2 percent and 10-year moratorium.
The sides agreed on a 30 year-term loan with an annual interest of 2 percent and 10-year moratorium.
G.Tuguldur
