Ulaanbaatar
USD26.9 million loan agreement signed
Economy
Ulaanbaatar/MONTSAME/. The Government of Mongolia, in
partnership with international organizations, is implementing projects and
taking urgent measures to prevent the novel coronavirus spread, diagnose and
treat the infection.
Within this framework, Minister of Finance Ch.Khurelbaatar and
the World Bank Country Manager Andrei Mikhnev today signed USD26.9 million loan
agreement for the Mongolia COVID-19 Emergency Response and Health System
Preparedness Project that will help Mongolia meet emergency needs in the face
of the current pandemic and prepare better for future health crises.
The project will
address the immediate needs in the country’s health sector, such as the
purchase of more than 11500 pieces of about 1000 kinds medical and laboratory
equipment and supplies for the 300-bed maternity hospital in Khan-Uul district,
Mongolia-Japan Teaching Hospital, 3rd Central Clinic, central hospitals of nine
districts and rural hospitals as well as operate a 1000-bed hospital in
response to Covid-19.
The project funding comprises a USD13.1 million credit from
the International Development Association (IDA) and a USD13.8 million loan from
the International Bank for Reconstruction and Development (IBRD), allocated as part
of the World Bank Group’s USD14 billion COVID-19 fast-track financing package.
Loan and credit terms are 30 years, with a grace period of 5
years.
