TWO FINANCING AGREEMENTS BACKED

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the Cabinet meeting supported in principle a finance agreement of the “Mine's infrastructure investment support" which has been concluded between Mongolia's Government and the International development association.
A decision also has been made to consult the Standing committee on security and foreign policy about this agreement and to submit to parliament a draft law on ratifying the finance agreement.
The project has three parts--to draw up technical economic justification and run researches and prepare cadres for dealing with these documents, a leadership of the contract, and management of internal waters. The project is to be implemented from July 1 of 2011 to May 30 of 2016 at 25 million US dollars.
The Cabinet also has made a decision to submit to parliament a draft law on ratifying a finance agreement of “Development of market and pasture management” project which has been concluded between Mongolia's Government and International fund for Agricultural development /IFAD/ of UN. Aims of it to support and boost small production in soums and provinces that are involved in the project in frames of "Mongolian livestock" and "Cooperative development" programmes, to create jobs, to support herders in adjusting a livestock production to environment and climate changes, to assist low income families and herders.
B.Oyundelger