Mongolia to raise 5 billion USD on int'l markets
ULAN BATOR, Sept. 18 (Xinhua) -- The Mongolian government has approved a plan to issue five billion U.S. dollars of bonds on international markets within the next two years, local media reported on Tuesday.
The approval was made at a recent government meeting and the draft decision still awaits ratification of the parliament.
The funds raised would be used to finance the country's big projects such as railway network construction, industrial complex development and support of the country's export sector, the report said.
The Mongolian economy grew rapidly in recent years, with its economic growth reaching 17.3 percent in 2011.
Ulan Bator planned to develop a series of big projects to boost growth and produce value-added products, but it had to raise funds from international markets to finance those projects.
Editor: Yang Lina
The approval was made at a recent government meeting and the draft decision still awaits ratification of the parliament.
The funds raised would be used to finance the country's big projects such as railway network construction, industrial complex development and support of the country's export sector, the report said.
The Mongolian economy grew rapidly in recent years, with its economic growth reaching 17.3 percent in 2011.
Ulan Bator planned to develop a series of big projects to boost growth and produce value-added products, but it had to raise funds from international markets to finance those projects.
Editor: Yang Lina
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