ERDENES-TAVANTOLGOI PAYS OUT ITS LOAN TO DEVELOPMENT BANK

Ulaanbaatar /MONTSAME/ Erdenes-Tavantolgoi LLC has paid out USD100 million out of its loan of USD200 million to the Development Bank of Mongolia ahead of the scheduled time, following the decision by its Board of Directors. The USD200 million loan was issued to support circulating capital of the company and finance some part of the allowance, which having distributed to every citizen, by a decision of the Government in 2012. Erdenes-Tavantolgoi LLC has worked with high profit and had paid out all foreign loans and the payout of the part of its loan to the Development Bank allows the Government to use the money for financing other urgent projects. B.Ooluun