No progress in the Mongolian Government’s 100,000 Apartments project

There has been no progress in the Government’s 100,000 Apartments project, meant to develop ger districts and to give the chance to low- and middle-income citizens to own apartments of their own. The lack of progress can be traced to the failure of the Development Bank to provide funds. At the moment, there is no indication when the bank would have the capital to finance projects. The project was planned to be implemented over six years and a working group headed by the Deputy Minister for Road, Transportation and Urban Development, T.Purevdorj, was formed to oversee the work. It included representatives from the Mayor’s Office and the Ministries of Mineral Resources and Energy, and of Road, Transportation and Urban Development. People’s hopes were raised but they wait in vain.

Source : News.mn