Ulaanbaatar
Hungary to grant USD 57 million loan for Biocombinat’s renovation
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Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto
is visiting Mongolia. Following his attendance in inter-regional
conference on ‘Whole-of-Society-Approach’ to preventing and countering violent
extremism and radicalization that lead to terrorism which commenced at the
Ministry of Foreign Affairs of Mongolia, Mr. Peter Szijjarto held an extended
meeting with Foreign Affairs Minister D.Tsogtbaatar.
The Foreign Affairs Ministers reported that they talked over
cooperation opportunities in Biocombinat’s renovation and agricultural sector
during the meeting.
“Next year will mark the 70th anniversary of
establishment of diplomatic relations between the two countries. The two
countries co-implemented numerous projects and programs in the past. In
particular, the Hungarian side backed up an issue to grant loan of USD 57
million loan for technical renovation of Biocombinat and improving its
products. Hungary is a country that developed food and agricultural
technologies well. Therefore, by cooperating with the country in th the
agricultural sector, conditions will be created for Mongolia to create jobs,
diversify its economy and get rid of dependency on mining,” Foreign Minister
D.Tsogtbaatar said.
Moreover, the parties exchanged views on expanding cooperation
in education, arts and cultural spheres. 200 Mongolian students study in
Hungary every year with the country’s scholarship. Minister D.Tsogtbaatar said
he believes the scholarship would be granted permanently to the students in the
future. “Mongolia will cooperate with Organization for Security and
Co-operation in Europe to combat with criminal groups which implicate people of
small countries in illicit cross-border trafficking. We discussed cooperating
with Hungary in this direction as well,” he added.
For his part, Mr. Peter Szijjarto said that Hungary is ready to
collaborate with Mongolia in countering terrorism. Moreover, the country will
promote Mongolia to become a member of the United Nations Security Council in
2023. I also express the country’s readiness to develop economic ties with
Mongolia. The Government of Hungary resolved to give easy terms loan of USD 57
million for renovating Biocombinat. The project will be carried out when the
Mongolian Parliament ratifies the credit issue. Annual scholarship for 200
students will keep being granted in the future.
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