Financing agreement of USD 100 million signed
Minister of Finance Khurelbaatar and World Bank’s Country Manager for Mongolia Andrei Mikhnev today signed a financing agreement of USD 100 million
Minister of Finance Khurelbaatar and World Bank’s Country Manager for Mongolia Andrei Mikhnev today signed a financing agreement of USD 100 million for the second Economic Management Support Operation (EMSO 2). The funding is being granted within the Extended Fund Facility (EFF) program running by the Government of Mongolia in partnership with the International Monetary Fund (IMF). The World Bank’s International Development Association and the International Bank for Reconstruction and Development are jointly providing USD 100 million for the second phase. They signed an important financing agreement that would back a large-scale economic program running by the Mongolian Government. The funding will be spent on reducing the expense of public investment projects, increasing their efficiencies, increasing housing access in a way of improving the apartment mortgage program, strengthening the social protection system, upgrading the business environment and ensuring implementation of the law on Animal Health.