TS.ELBEGDORJ MEETS KUWAIT FUND'S DIRECTOR-GENERAL
Ulaanbaatar, Mongolia /MONTSAME/ The President Ts.Elbegdorj received on Tuesday Abdulwahab Al-Bader, the director-general of the Kuwait Fund for Arab Economic Development (KFAED).
Ts.Elbegdorj emphasized that the KFAED significantly contributed to the bilateral relations and cooperation. "With investments from the Kuwait Fund, three projects have been implemented successfully such as a construction of Taishir hydroelectric power station and of paved-roads in routes Darkhan--Erdenet and Erdenet--Bulgan--Unit. Now, two projects are being implemented," the President said.
The fund's head expressed a readiness to cooperate with Mongolia by granting soft-loans to pilot projects drawn up with proper technical and economic justifications. The President put forward some proposals to the KFAED, such as projects on construction of a hydroelectric power station in Shuren and a paved-road between Tarialan and Moron. He asked Mr. Abdulwahab to give soft-loans for these projects.
The sides agreed to boost a collaboration between the Development Bank of Mongolia (DBM) and the KFAED. A cooperation memorandum was thus signed by KFAED director-general and by L.Bolormaa, the first deputy director of the DBM.
B.Khuder
Ts.Elbegdorj emphasized that the KFAED significantly contributed to the bilateral relations and cooperation. "With investments from the Kuwait Fund, three projects have been implemented successfully such as a construction of Taishir hydroelectric power station and of paved-roads in routes Darkhan--Erdenet and Erdenet--Bulgan--Unit. Now, two projects are being implemented," the President said.
The fund's head expressed a readiness to cooperate with Mongolia by granting soft-loans to pilot projects drawn up with proper technical and economic justifications. The President put forward some proposals to the KFAED, such as projects on construction of a hydroelectric power station in Shuren and a paved-road between Tarialan and Moron. He asked Mr. Abdulwahab to give soft-loans for these projects.
The sides agreed to boost a collaboration between the Development Bank of Mongolia (DBM) and the KFAED. A cooperation memorandum was thus signed by KFAED director-general and by L.Bolormaa, the first deputy director of the DBM.
B.Khuder
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