MONGOLIA TO RECEIVE USD 300 MILLION SOFT LOANS

Ulaanbaatar, Mongolia /MONTSAME/ A general agreement on soft loan to be granted by the Economic development cooperation fund /EDCF/ of Republic of Korea in 2011-2015 will be concluded between Governments of Mongolia and the Republic of Korea. The Cabinet meeting on Wednesday backed in principle this draft agreement and decided to coordinate it with relevant standing committees of the Parliament. In 1993-2007, EDCF has granted a total of USD 60 million to Mongolia for the implementation of 8 projects. In 2011-2015, the sides agreed to provide credits of 300 million US dollar. The loan will be devoted to establishing a national diagnostic and treatment center, continuing a project on united communication, control, information network, building a wholesale center, and constructing a coal-to-gas plant.

B.Oyundelger