Ulaanbaatar
Loan agreement of Biocombinat renovation project to be signed with Hungarian EXIM Bank
Economy
Ulaanbaatar /MONTSAME/ At a regular meeting of the Cabinet on
March 25, Prime Minister U.Khurelsukh authorized relevant officials to sign a
loan agreement between the Ministry of Finance and the Hungarian Export-Import
Bank on the Biocombinat state-owned factory renovation project to
be implemented with a 17.5-year Hungarian interest-free loan of USD 57 million.
Under the technical renovation project, a viral vaccine factory
and a laboratory will be built in compliance with international Good
Manufacturing Practice (GMP) requirements and Biosafety Level 3 standards and
furnished with advanced equipment; infrastructure/utility systems of the facilities
will be expanded; and the staff to work at the new factory will undergo
training.
Over the past three years, Mongolia has spent a total of
USD 7.5 million on imports of livestock vaccines. The project is therefore
expected to open up an opportunity to domestically produce much needed vaccines
and medicines against foot-and-mouth disease and rinderpest and further to export them.
