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

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

Friday, 02 May 2008

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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