Millennium Challenge Corporation’s Second Compact Agreement talks wrap up
Funding of non-refundable aid of USD 350 million is to be granted under the Second Compact Agreement to be spent on a project to increase water supply of Ulaanbaatar city.
As a part of his official visit to the United States, Foreign Affairs Minister Tsogtbaatar met with Acting CEO of the Millennium Challenge Corporation (MCC) Jonathan Nash and other officials to finalize the Second Compact Agreement to be established between the Government of Mongolia and the Millennium Challenge Corporation. Funding of non-refundable aid of USD 350 million is to be granted under the Second Compact Agreement to be spent on a project to increase water supply of Ulaanbaatar city. The parties are ensuring preparation to establish the agreement during a bilateral high-level meeting. The first MCC compact was a five-year USD 284.9 million agreement under which six projects were implemented between 2008-2013 to increase economic growth and reduce poverty by investing in property rights, health, vocational education, energy and environment, and transportation.
Views: 944
Tweet