EUR50 million to be granted to state budget if Mongolia meets criteria

2018-04-26 10:59:39
Ulaanbaatar /MONTSAME/ The European Union is implementing project to support Mongolia’s economy in partnership with the World Bank, reported Marco Ferri, Charge D’Affaires of the European Delegation in Mongolia at his meeting yesterday with Head of Standing Committee on Budget, MP B.Chojilsuren.

The EU delegates arrived in Mongolia to study economic condition of Mongolia and to make analysis on whether it meets criteria of rendering budget support with non-refundable aid. If Mongolia satisfies requirements and gets the right to receive the budget support,  non-refundable aid of EUR 50 millioncan be granted to the State Budget of Mongolia, Mr. Marco Ferri informed.

In turn, Head of the Standing Committee B.Choijilsuren expressed gratitude on behalf of the Parliament and the Standing Committee to delegates on visiting to Mongolia to render budget support. “Since the launch of implementation of Extended Fund Facility program of the International Monetary Fund, it brought positive changes in Mongolia’s economy. Stable price of export mining products is influencing favorably as well”, he added and briefed current state of economic condition of Mongolia.

At the meeting, the sides touched issues State Budget spending, transparency and public participation in it.