Ulaanbaatar receives USD 4 million in aid from Japan
The city of Ulaanbaatar will receive USD 4 million in nonrefundable aid from Japan’s Fund for Poverty Reduction in developing member nations of the Asian Development Bank (ADB).
Finance Minister S.Bayartsogt, Ulaanbaatar Mayor G.Munkhbayar, and Financial Regulatory Commission Chief D.Bayarsaikhan signed the agreement, as did Japan’s ambassador to Mongolia, T.Shimizu, and ADB’s Permanent Representative in Mongolia, R. Shoelhammer.
The aid will go toward improving the capital’s environment, implementing a general city plan, and improving education.
The Japanese government is granting technical aid of USD 1.5 million through the ADB to develop programs for improving Ulaanbaatar’s utility systems and ger districts. The money will help resolve several issues in the ger districts, including infrastructure, water and sewage, and utilities.
S.Bayartsogt noted that 60 percent of the capital’s residents live in ger districts and the projects will be implemented to improve their living standards.
Also, the Financial Regulatory Commission (FRC) will receive USD 2.5 million to implement projects to improve financial services for poor people, improve fiscal literacy, and improve training in the financial services sector.
Finance Minister S.Bayartsogt, Ulaanbaatar Mayor G.Munkhbayar, and Financial Regulatory Commission Chief D.Bayarsaikhan signed the agreement, as did Japan’s ambassador to Mongolia, T.Shimizu, and ADB’s Permanent Representative in Mongolia, R. Shoelhammer.
The aid will go toward improving the capital’s environment, implementing a general city plan, and improving education.
The Japanese government is granting technical aid of USD 1.5 million through the ADB to develop programs for improving Ulaanbaatar’s utility systems and ger districts. The money will help resolve several issues in the ger districts, including infrastructure, water and sewage, and utilities.
S.Bayartsogt noted that 60 percent of the capital’s residents live in ger districts and the projects will be implemented to improve their living standards.
Also, the Financial Regulatory Commission (FRC) will receive USD 2.5 million to implement projects to improve financial services for poor people, improve fiscal literacy, and improve training in the financial services sector.
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