CREDIT AGREEMENT TO BE SUBMITTED TO PARLIAMENT

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, the regular cabinet meeting considered as necessity to submit to parliament a draft law on ratifying a credit agreement on higher educational reform project to be established between the government of Mongolia and the Asian Development Bank (ADB). The project has three main parts such as higher education's programs quality improvement, the governance, management and financing ungrade, and the equality and sufficiency improvement. In their frames, it is needed to draw up a policy recommendation on the sector's reform, to renovate the tuition fees, to improve training environment and facilities, to create standards of national evaluation for teachers, and to improve qualities of universities and institutes in localities. The project will be realized until December 31, 2016 and will get a soft loan of USD 20 million from the ADB and investments of USD 2.22 million from the government. The soft-loan is to be given for 32 years freed from the main payment in the first eight years. B.Khuder