FINANCE TACKLED FOR CONSTRUCTION OF AUTOROADS IN WESTERN REGION

Ulaanbaatar, Mongolia /MONTSAME/ The Minister of Finance S.Bayartsogt and the country director of the Asian Development Bank (ADB) for Mongolia Robert Schoellhammer signed on Thursday a general financial agreement for an investment program to develop the vertical axis of western autoroads. The program will be co-implemented by the government of Mongolia and the ADB with investments of USD 170 million from the ADB and USD 92 million from Mongolia's government in three phases. In a scope of the program, a total of 293 km paved-roads will be run, three fully-equipped repair centers will be set up, some 35 km roads in aimags and three bridges will be constructed. During the ceremony, the Minister S.Bayartsogt said thanks to constructing the autoroads of vertical axis of western region the road network of Mongolia will connect Russia and China and will bring intensive socio-economic development. B.Khuder