Financing agreement on cable car project approved
PoliticsUlaanbaatar/MONTSAME/. Yesterday, May 14, the Parliament passed a bill
on ratifying the financial agreement to be established between the Governments
of Mongolia and the French Republic.
Within the framework to introduce a new type of public
transport service in Ulaanbaatar and reduce traffic congestion and air
pollution, the Municipality of Ulaanbaatar is collaborating with Poma Company
of France to implement a cable car transport project since April 2019.
To be funded by the Government of the French Republic, the
amount of loan is USD60 million, with the repayment term of 40 years, including
a grace period of 12 years.
Under the project, a 4.9-km Bayankhoshuu traffic circle - Khanyn
Material - Trauma Hospital air route with three stations as well as a 5.4-km air
route linking Doloon Buudal – Dari Ekh – Sansar traffic circle with three stations
will be built.
The overall purpose of the project is to improve public
transport service and increase their variety and accessibility, develop
tourism, and reduce traffic congestion and air pollution.
There were no MPs to question or speak on the bill. The bill was approved by 62.7 percent of the turnouts at the plenary session.