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General Financing Agreement signed with EBRD www.montsame.mn
Ulaanbaatar /MONTSAME/ General Financing Agreement between the Government of Mongolia and the European Bank for Reconstruction and Development (EBRD) was signed by Minister of Finance Ch.Khurelbaatar and Head of Mongolia Unit at the EBRD Irina Kravchenko on April 9.
By signing the agreement, the EBRD will grant USD 300 million credit financing to the Mongolian Government for the implementation of projects and programs in road and infrastructure sectors. The sides agreed to finance the project on construction of additional two-lane road in route Ulaanbaatar-Darkhan at the first stage.
Finance Minister Ch.Khurelbaatar said “The EBRD has implemented projects worth about USD 1.7 billion in private sectors of Mongolia in the past. I consider that cooperation between the Government of Mongolia and the EBRD is starting from today. USD 120 million out of USD 300 million loan financing from the Bank will be spent on construction of additional two-lane road in a route between Ulaanbaatar and Darkhan. I am expressing my gratitude to Head of Mongolia Unit at the EBRD Irina Kravchenko on resolving the funding in a very short time.”
Published Date:2019-04-10
