Credit agreement signed for $270 million to build new international airport

Mongolia took a large step
forward toward building a new international airport when it signed a
credit agreement with Japan on Thursday. 

The agreement will give Mongolia
$270 million U.S. in credit from the Japanese government for construction
of a new airport. 

The planned airport, scheduled
to open in 2015, will be able to handle 1.7 million passengers annually.
With an added capacity for 18,100 landing and departing airplanes, the
new airport will provide a four-fold increase over the limited abilities
of Mongolia’s Chinggis Khaan international airport. 

Participating in Thursday’s
Ulaanbaatar singing ceremony were Mongolian Minister of Finance, Ch.Ulaan,
and Vice President of the Japan Bank for International Cooperation,
T.Shioguchi.

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