Cabinet backs credit agreement
Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet discussed and backed a draft law on ratifying a credit agreement established between the government of Mongolia and the Bank for Reconstruction and Credit (BRC) of the Federal Republic of Germany. The credit agreement has been established to implement a project on developing regional transportation infrastructure with an aim to improve food supply of Ulaanbaatar.
A EUR 7 million loan will be granted by the BRC to realize the project. In accordance with the credit terms, the repayment period of the loan will be 40 years, and the credit interest is to stand at 0.75 per cent.
Next year, a 7.45 km road reaching Tov aimag's Bornuur soum and a 24.72 km paved road will be repaired with the loan's capital, a 16.6 km paved road to Songinokhairkhan district's Jargalant village will be run.
It is considered that agricultural producers will be able to provide the city with high quality foods and products, a dependence on imported products will be reduced thanks to renovating the transportation infrastructure.
B.Khuder
A EUR 7 million loan will be granted by the BRC to realize the project. In accordance with the credit terms, the repayment period of the loan will be 40 years, and the credit interest is to stand at 0.75 per cent.
Next year, a 7.45 km road reaching Tov aimag's Bornuur soum and a 24.72 km paved road will be repaired with the loan's capital, a 16.6 km paved road to Songinokhairkhan district's Jargalant village will be run.
It is considered that agricultural producers will be able to provide the city with high quality foods and products, a dependence on imported products will be reduced thanks to renovating the transportation infrastructure.
B.Khuder
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