At its plenary session on April 10, Parliament ratified a financial agreement on the Livestock Commercialization Project.

“The project will be funded with International Development Association’s credit worth 30 million USD through the World Bank. It has a 1.25 percent interest rate and repayment term of 30 years, with a moratorium period of five years,” said Minister of Finance Ch.Khurelbaatar.

“Within the project, the main objectives were proposed as: reduced prevalence of animal contagious diseases by 25 percent, increase meat and dairy production percent, increased the value of livestock by 20 percent, and directly reach 20,000 herders,” he added.

The Livestock Commercialization Project will be implemented as the second phase of the Mongolia Livestock and Agricultural Marketing Project, which was implemented in Mongolia from 2013 to 2017 with the non-refundable assistance of the World Bank.

The project was supported with 63.8 percent approval from Parliament.

Heating infrastructure project approved

At its plenary session, the additional funding agreement on the “Increasing efficiency of heat supply of Ulaanbaatar” project was supported with 55.7 percent approval from Parliament.

Minister of Finance Ch.Khurelbaatar mentioned that the project will be funded by the International Development Association’s credit worth 12 million USD. It has a 1.25 percent interest rate and repayment term of 30 years, with a moratorium period of five years.