Ulaanbaatar
Bills on ratifying credit agreements submitted
PoliticsUlaanbaatar /MONTSAME/ Head of the Cabinet Secretariat for Government S.Bayartsogt Friday submitted to parliament draft laws on ratifying credit agreements on a programme of supporting social welfare and on an extra financing for a project on agriculture and rural development.
These agreements will be established between the government of Mongolia and the Asian Development Bank (ADB).
The government of Mongolia has asked the ADB to have aid for reducing negative impacts on the vulnerable group in times of economic difficulties, keeping the social welfare standards at a reliable level and recovering the budgetary deficit. By these requests, the ADB has decided to implement the programme on supporting social welfare in two phases. The financing will be given to the government between 2015 and 2016, Bayartsogt said.
The second stage of the project on agriculture and rural development aims to promote competitiveness of Mongolian agricultural products, to produce environmentally-friendly goods and to seek a chance to export it to foreign countries.
