ID :
157104
Thu, 01/13/2011 - 15:28
Auther :
Shortlink :
http://m.oananews.org//node/157104
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CREDIT AGREEMENT BACKED
Ulaanbaatar, Mongolia, /MONTSAME/ A regular cabinet meeting held Wednesday discussed and then backed a draft law on ratifying the second stage of credit agreement for the two-stage credit project for developing small- and middle-sized production and protecting environment, established between governments of Mongolia and Japan.
The sides have negotiated on granting Mongolia a USD 60 million soft loan with a 40 years term and 0.6 percent interest. The debt relief term will be ten years. From the total credit, USD 45 million will be spent for supporting the small- and middle-sized production, whereas ten million will go for protection of environment, including reduction of air pollution in Ulaanbaatar. Maximum size of a loan to be granted to one borrower will be up to USD 600 thousand. In addition, the credit term will be ten years.
The two-stage credit project has been realized from December 4, 2006. In its frames, MNT 40 billion loans have been given to 125 entities in Ulaanbaatar and in 18 aimags, creating 1,233 job places.
B.Khuder
The sides have negotiated on granting Mongolia a USD 60 million soft loan with a 40 years term and 0.6 percent interest. The debt relief term will be ten years. From the total credit, USD 45 million will be spent for supporting the small- and middle-sized production, whereas ten million will go for protection of environment, including reduction of air pollution in Ulaanbaatar. Maximum size of a loan to be granted to one borrower will be up to USD 600 thousand. In addition, the credit term will be ten years.
The two-stage credit project has been realized from December 4, 2006. In its frames, MNT 40 billion loans have been given to 125 entities in Ulaanbaatar and in 18 aimags, creating 1,233 job places.
B.Khuder
