ADB to finance projects and programmes in our energy sector

2015-12-04 13:51:17

Ulaanbaatar /MONTSAME/ This matter was sounded during a meeting of the Minister of Energy D.Zorigt with a delegation of the Asian Development Bank (ADB) on Friday.

The delegation consisted of Diwakar Gupta, Asian Development Bank's (ADB) Vice-President for Private Sector and Co-financing Operations; Jacob Wienberg Sorensen, a Principal Advisor to the Vice President, Private Sector Investments and Co-financing at ADB; Hisaka Kimura, Head of the ADB Private Sector Infrastructure Finance; and Robert Schoellhammer, the ADB Country Director for Mongolia.

Mr Gupta said the ADB is focusing on finishing some clauses in a draft contract on energy purchase of the 5th thermal power station and financing of an infrastructure project to be implemented with an ADB loan, "these matters will be resolved in near future".

Mr Schoellhammer said the ADB has set up three working groups to provide related state bodies with advice in conjunction with the 5th power plant’s project.

Having started its activities in the energy sector of Mongolia in 1993, the ADB has financed a total of 18 projects and measures with non-refundable aid of USD 13.6 million and soft-loans of USD 66.15 million so far. These projects and programmes aimed to promote a policy and planning of the energy sector, to develop renewable energy, to enhance profits of the sector, and to improve the energy provision for low-income people. Some works have been done for working out master programmes on the sector, formulating a feasibility study for the 5th power plant, and providing advice. Technical and technological renovation has been performed at the 3rd and 4th power plants as well.

The ADB leaders said a cooperation memorandum has been signed to realize some projects on maximizing profits of energy transmission lines, developing human resources, implementing international initiatives of the Gobitech and Asian energy super network, and providing local families with electricity from combined energy sources.        


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