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Japan to Grant USD 25.9 million to Mongolian Government |
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Thursday, 25 May 2006 |
Ulaanbaatar, /MONTSAME/. The Government of Mongolia will receive 25.9
million USD loan from the Japanese International Cooperation Bank with
0.75 percent annual interest and term of 40 years. This issue was
approved on Wednesday at a regular meeting of Mongolian Parliamentary
Standing Committee on Security and Foreign Policy. The Standing
Committee also solved finally an issue on whether discussing a draft
law on the ratification of a loan agreement of a two-stage project on
the small and medium sized enterprises development and environmental
conservancy. More than 20 million USD out of the above loan will be
given on loan conditions to small and medium sized businessmen and the
remaining five million USD will be spent on nature protection. The loan
is planned to be granted through five commercial banks.
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