IDA funding program to be submitted for immediate discussion

Oyundelger 2017-05-11 05:05

Economy

General Funding Program, signed by the Government of Mongolia, World Bank and the International Development Association, was discussed by the cabinet.

IDA funding program is to be submitted for immediate discussion. General Funding Program, signed by the Government of Mongolia, World Bank and the International Development Association, was discussed by the cabinet. If backed by parliament, IDA will open line of soft-term credit of USD 79 million, which was allotted for Mongolia for 2015-2017. The credit is expected to be distributed to projects for promoting employment, macroeconomics, improving legal environment for financing sector, building financial capacity, upgrading energy distribution and sustaining the western region’s energy demand with renewable energy production. The ministers decided to submit it for immediate discussion of the parliament.