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Russia and USA to provide financial support to Mongolia www.news.mn
During his visit in Moscow on 16-19 May, Mongolian Foreign Minister D.Tsogtbaatar met his counterpart Sergey Lavrov; among, other things, he discussed a RUB 100 billion loan from Russia. The Mongolian Foreign Ministry has explained that the money will be spent on projects for the expansion of Power Station III and IV, which both serve the capital, Ulaanbatar, as well as railway construction.
Following Moscow, Mongolia's top diplomat visited Washington DC, where he met with Secretary Mike Pompeo and the Millennium Challenge Corporation (MCC) of the United States of America. The MCC has agreed to grant a non-refundable aid package of USD 350 million to Mongolia under the Second Compact Agreement. This funding will be spent on a project to increase the water supply to Ulaanbaatar.
Published Date:2018-05-30
