Several projects to be implemented with soft-loan from Hungary

2016-09-08 12:29:36

Ulaanbaatar /MONTSAME/ Deputy Mayor of Ulaanbaatar city for infrastructure development affairs P.Bayarkhuu met Thursday Balint Tombor, advisor to the Vice Minister of Foreign Affairs and Trade of Hungary; and Akos Madari, the Ambassador Extraordinary and Plenipotentiary of Hungary to Mongolia.

Pursuant to a cooperation memorandum between the countries, the Hungarian side will give to Mongolia a soft-loan of EUR 25 million for funding projects on reconstructing the capital city’s sewage treatment and building a new one, on establishing a bus-assembling factory, on a smart business center, on organic foods and on constructing smart bus-stations.

Noting that the bilateral relations and cooperation have progressed into a new level, Balint Tombor pointed out his country intends to accelerate the launch of the projects. The financing of EUR 25 million will be granted through the Exim Bank of Hungary.

The Deputy Mayor said he is thankful to Bagdy Gabor, the Deputy Mayor of Budapest city for attending the Forum of Mayors of Northeast Asian Countries held last August in Ulaanbaatar. During Bagdy Gabor’s visit here, the parties concurred to renovate the sewage treatment of UB and constructing a new one with technical assistance of Hungary, Bayarkhuu said. He said the Administration of City will take immediate actions to commence the projects.   

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