SOFT LOAN OF 40 MILLION EURO TO COME FROM AUSTRIA
Ulaanbaatar, Mongolia /MONTSAME/ Austria has decided to give Mongolia a soft loan of 40 million euro for two years. The general agreement on the financial cooperation, which is to be established between Governments of Mongolia and Austria, has been supported at a meeting of parliamentary Standing committee on economy.
Mongolia requested Austria to include it in soft loans in 1991. Only in the last year Austria considered this suggestion and drew thjis decision. The agreement is valid for two years, a term of the soft loan of 40 million euro will be discussed. A yearly interest stands at 0.4 percent. According to the two sides' first agreement, the loan will be spent for health and infrastructure spheres. In the health section, for example, ten million euro are needed to buy four kids of equipment for the National oncology center. During the meeting, which ran on November 8, the gathered supported this plan, but decided that a detailed plan is needed for how the money would be spent in infrastructure. The financial cooperation agreement has been made between the governments of Mongolia and Austria. If parliament ratifies it, a new agreement will be established with Austria at the government level.
B.Oyundelger
Mongolia requested Austria to include it in soft loans in 1991. Only in the last year Austria considered this suggestion and drew thjis decision. The agreement is valid for two years, a term of the soft loan of 40 million euro will be discussed. A yearly interest stands at 0.4 percent. According to the two sides' first agreement, the loan will be spent for health and infrastructure spheres. In the health section, for example, ten million euro are needed to buy four kids of equipment for the National oncology center. During the meeting, which ran on November 8, the gathered supported this plan, but decided that a detailed plan is needed for how the money would be spent in infrastructure. The financial cooperation agreement has been made between the governments of Mongolia and Austria. If parliament ratifies it, a new agreement will be established with Austria at the government level.
B.Oyundelger
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