ADB SUBMITS PROJECT PROPOSAL ON HOUSING CONSTRUCTION TO UB CITY

Ulaanbaatar /MONTSAME/ At a meeting with the Ulaanbaatar City administrators, the Asian Development Bank (ADB) presented some housing projects, suitable for Ulaanbaatar's re-structuring plans and paying abilities, on June 24. Mayor E.Bat-Uul thanked the ADB for implementing many projects and programs, collaborating with the UB City, and for supporting its actions, and expressed a satisfaction with the project proposal presentation, "which is harmonized with the city’s re-structuring plans and paying capacities, two of most important issues of Ulaanbaatar". The ADB's team in charge of paying capacity project implementation started working in Mongolia on June 1, including members from the Asian Cities Development Initiative, and is to continue to work here until January of 2016. The ADB representatives also said that certain funding opportunities such as alternative and private loans have to be settled before executing the projects. Accordingly, the ADB plans to conclude the loan documents by May of 2016 and to get approval from the ADB Board by the following December. The Bank will also provide technical assistance for its projects.