Government of Mongolia intensifies the process of complex apartment blocks

Recently, the Government of Mongolia has supported the ongoing deal of the Development Bank of Mongolia with the Chinese Exim Bank (The Export and Import Bank of China) to get the loan worth 300 billion MNT for the project financing of the “New Yarmag” complex apartment blocks and decided to make a resolution regarding the loan deal accordingly. Elsewhere, Chief of the Board of Directors of the Development Bank of Mongolia Ch.Khashchuluun was assigned to proceed the Letter of Guarantee for the loan 300 billion MNT under the terms of 12 months duration; at the same time, the Minister for Cabinet Secretariat and MP Ch.Khurelbaatar is obliged to control over the implementation procedures regarding the loan deal accordingly. As of today, the prospecting and evaluation process was completed as the preliminary stage measures for building the complex apartment blocks along the 970 hectares area in Khan-Uul district for 23,900 households of Ulaanbaatar and the Government of Mongolia started to intensify the project process with considerable efforts. The “New Yarmag” complex apartment blocks will be built into three separate blocks through two main implementation stages.

Source : Infomongolia.com