Ulaanbaatar
Parliament ratifies USD 12 million financing from International Development Association
Politics
Ulaanbaatar /MONTSAME/. On April 10, Parliament discussed and backed a bill on ratifying a financing agreement between Mongolia and International Development Association (IDO), submitted by the cabinet.
The additional credit financing of USD 12 million is allocated for the Ulaanbaatar Clean Air Project, launched in 2012 with a low interest loan of USD 15 million from the World Bank to enable consumers in ger areas to access heating appliances producing less particulate matter emissions and to further develop selected medium-term particulate matter abatement measures in Ulaanbaatar in coordination with development partners.
The loan from the IDO with a maturity period of 25 years and grace period of 5 years has 1.25 percent of annual interest rate and 0.5 percent of capital insurance premium.
