HUNGARY TO GRANT USD 25 MILLION SOFT LOAN

Ulaanbaatar, /MONTSAME/ The third Mongolia-Hungary inter-governmental meeting of cooperation in trade, economy, sciences and technique was held Wednesday in the Government House. This meeting was co-chaired by Kh.Battulga, the Minister of Road, Transportation, Construction and Urban Development and a head of the Mongolian side of Mongolia-Hungary inter-governmental commission, and by Veres Janos, a plenipotentiary to the Hungary's Premier in charge of development of economic collaboration with Asian countries.
The two countries discussed issues of the bilateral relations and collaboration, and established some documents--a general inter-governmental agreement on financial cooperation for granting a soft loan of USD 25 million will be given by Hungary for repairing the "Biokombinat" state-owned enterprise; and a cooperation agreement between the custom organizations.
A cooperation memorandum was inked between Mongolia's Authority of Mineral Resources (MAMR) and Hungary's Service of Mining and Geology. The MAMR and the Hungary's Geophysical Institute signed a mutual understanding memorandum.
After the ceremony, the Premier S.Batbold received Mr Veres Janos, head of the Hungarian delegation. Batbold thanked for granting the long-term soft loan and congratulated for participating in the commission's meeting. He mentioned about the 60th anniversary of the bilateral diplomatic relations and marking it in a wide range.
The Premier told the delegation about his plan to visit Hungary, and conveyed a greeting to his counterpart of Hungary Gordon Bajnai.