Mongolia to receive USD 1 billion loan from China
Mongolia’s Parliament has approved and ratified the amendments to the General Agreement on Soft Loan signed by the Government of Mongolia and the Export-Import Bank of China.
Mongolia to receive USD 1 billion loan from China. Mongolia’s Parliament has approved and ratified the amendments to the General Agreement on Soft Loan signed by the Government of Mongolia and the Export-Import Bank of China. The recent amendments offered to increase the share of Chinese loan in project financing up to 95 percent which was 85 percent in original agreement. The Chinese soft loan to Mongolia has an annual interest of 2 percent and 20-year repayment and 7-year grace period.
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