Cabinet authorized Minister of Finance Ch. Khurelbaatar to sign a loan contract with Export-Import Bank of Korea to build thermal power plants in 10 of Mongolia's provinces. Thermal power plants will be built, heating networks will be expanded, and facilities will be renovated in Arkhangai, Bayankhongor, Gobi-Altai, Gobisumber, Dundgobi, Zavkhan, Uvurkhangai, Sukhbaatar, Khentii, and Tuv provinces. The 148 million USD loan will have a 40-year term with a 0.15 percent interest rate. Cabinet approved negotiations for another loan from Export-Import Bank of Korea to reduce air pollution in Ulaanbaatar. The potential investment would be 60 million USD with a 30-year term and a 1.5 percent interest rate.
The National Post /page 1/