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120 projects to be financed by the Chinggis and Samurai bonds

Trans. by B.MENDBAYAR

The Development Bank of Mongolia is working to finance a total of 120 projects with its first Eurobond of 580 million USD, the Chinggis Bond, Samurai Bond, and its own assets. The projects cover eight sectors, namely transportation, construction, infrastructure, energy, mining, small and medium-sized enterprises, agriculture and light industry.
The bank planned to lend 107 billion MNT to 17 road and bridge construction and renovation projects and has lent about 73 billion MNT so far. The bank also has lent 166.69 billion MNT and 159.2 million USD to eight construction projects. Currently, 34 infrastructure projects are being implemented with financial help from Development Bank, and in the energy sector, prospective projects such as the Tavan Tolgoi Power Station, Amgalan Thermal Station and Eg River Hydroelectric Power Plant will be financed.
The biggest project the Development Bank is implementing in mining sector is a 200 million USD investment to increase the cash position of Erdenes Tavan Tolgoi LLC. In addition, the bank has lent 6.25 billion MNT for the initial construction of Sainshand Industrial Park Complex, and 48.4 billion MNT to 311 small and medium-sized enterprises. The bank plans also to lend 269 billion USD to light industry to upgrade equipment and facilities.

Short URL: http://ubpost.mongolnews.mn/?p=10929

Posted by on Jul 29 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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