DRAFT LAW ON CREDIT AGREEMENT BACKED

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet meeting on Wednesday backed a draft law on ratifying a credit agreement of the 2nd phase of the "Supporting social sector" programme. Established between Mongolia's government and the Japan International Cooperation Agency (JICA), the programme's 2nd phase allows Mongolia to receivew JPY one billion and 550 million, or some USD 20 million. The money is to be spent for implementing a programme on stabilizing the macroeconomics, improving results of social welfare to reform a care for low-income people, expanding frames of discounted medicines, financing the health insurance deduction, sponsoring textbooks for pupils, and for preventing children's nutritional deficiency. In addition, the money will be utilized for complex works such as creating a system of supplying necessary vaccines and medicine in case of a wide shortage, and developing ger areas. The draft law on the credit agreement will be submitted to parliament. B.Khuder