ABOUT CREDIT GUARANTEE FOR NEW MICRO-DISTRICT

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet has discussed and backed in principle a matter on taking a loan of MNT 300 billion from the Export-Import Bank of China, in order to create a financial source for the "Shine Yaarmag" apartment micro-district. A related governmental resolution will be issued.
In accordance with the resolution, head of the Representative Leading Board of the Bank of Development Ch.Khashchuluun has been allowed to release a credit guarantee for the loan under a term of 12 years, and so head of the Cabinet Secretariat of the Government Ch.Khurelbaatar will put control over implementation of the resolution.
The new micro-district will be erected in two phases dividing into three parts.
B.Khuder