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$100 million Kazakh-Mongolian Investment Fund created |
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Tuesday, 12 August 2008 |
Plans are moving ahead on creating
a joint Kazakh-Mongolian Direct Investments Fund for encouraging business
opportunities between the two countries.
With an initial funding of
$100 million USD, the fund will seek to assist in the development in
Mongolia in areas including energy, transport, financial sector, telecommunications,
tourism, mining and other areas.
Calling the fund a financial
bridge, spokesmen for both countries anticipate using the fund for financing
very large economic projects to benefit both countries.
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