Ulaanbaatar
Projects to be funded by Austrian soft loan decided
PoliticsUlaanbaatar /MONTSAME/ At its regular meeting on February 1, the Cabinet resolved to finance following projects with EUR 40 million, an amount to be provided in the frameworks of Mongolia-Austria intergovernmental agreement on Financial Cooperation.
The money will be spent on Public servants' hospital, infrastructure development in Bayanzurkh and Songinokhairkhan districts in order to reduce air pollution, Taishir-Altai water supply project and renewing the equipments of National Center for Maternal and Child Health of Mongolia.
Corresponding Ministers were tasked to look over the implementation of these projects. The Government of Austria is granting EUR 40 million soft loan on conditions of 18 years of repayment period, without interest and without repayment in the first 5 years.
The Financial Cooperation Agreement was signed in June 2016.
