USD53 MILLION FINANCING AGREEMENT WITH WORLD BANK SIGNED

Today, the World Bank and Ministry of Finance of Mongolia signed USD53 million financing agreement for the Ulaanbaatar Heating Sector Improvement Project and Additional Financing of the Third Sustainable Livelihoods Project. The financing was approved by the World Bank’s Board of Executive Directors last Friday — kudos to the Government of Mongolia and the Ministry of Finance for swift and effective work to make the projects effective.

 

The USD41 million Ulaanbaatar Heating Sector Improvement Project will finance essential investments to expand transmission capacity and improve the efficiency of the district heating network to meet the increasing demand for heating services and improved air quality.

 

The USD12 additional financing earmarked for the Mongolia Third Sustainable Livelihoods Project will scale up activities to improve the planning and delivery of priority local infrastructure investments in all 330 rural soums in Mongolia.

 

 

 

 

Source: https://montsame.mn/en/read/223541