Austria to help develop infrastructure in capital city
The Cabinet resolved to finance following projects with EUR 40 million, an amount to be provided in the frameworks of Mongolia-Austria intergovernmental agreement on Financial Cooperation.
Austria is to help develop infrastructure in the capital city. The Cabinet resolved to finance following projects with EUR 40 million, an amount to be provided in the frameworks of Mongolia-Austria intergovernmental agreement on Financial Cooperation. The money will be spent on Public servants' hospital, infrastructure development in Bayanzurkh and Songinokhairkhan districts in order to reduce air pollution, Taishir-Altai water supply project and renewing the equipment of National Center for Maternal and Child Health of Mongolia. The Government of Austria is granting EUR 40 million soft loan on conditions of 18 years of repayment period, without interest and without repayment in the first 5 years. The Financial Cooperation Agreement was signed in June 2016.
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