New apartments to be builtPolitics
Ulaanbaatar /MONTSAME/ In frames of a project on re-planning the UB city's ger (national dwelling) areas, apartments will be erected in Sukhbaatar district’s 9th, 10th, 11th and 12th khoroos (smallest administrative unit in Ulaanbaatar) and in Chingeltei district’s 13th and 15th districts.
The cabinet meeting decided Monday as such and authorized the Board of the Development Bank of Mongolia (DBM) to issue a credit guarantee equaling up to USD 85 million for realizing this project. In order to minimize a guarantee risk of the DBM, an obligation was given to B.Bolor, the Minister of Finance, to set up a risk fund and to resolve necessary capital for it. Another order was given to Z.Bayanselenge, the Minister of Construction and Urban Development, and to E.Bat-Uul, the Mayor of Ulaanbaatar city, to control an implementation of the related resolution.