Additional credit agreement for new airport to be considered

Ulaanbaatar /MONTSAME/ The Cabinet decided on Monday to discuss with the related Standing committees of Parliament the Agreement on Additional Credit for Construction of New Airport, in regard that the easy-term loan capital for the new airport project is running out by July. This agreement is to be signed by the Government and the Japan International Cooperation Agency (JICA). According to the first agreement, the Government took credit from the JICA worth JPY 28.8 billion with 0.2 percent interest for 40 years on May 9 of 2008. As principally agreed during the visit of Shinzo Abe to Mongolia in 2013, Japan will be providing additional credits with similar terms with the previous agreements for ongoing projects.