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Mongolia and ADB to redevelop ger districts with 320 million USD

By M.ZOLJARGAL

Minister of Economic Development N.Batbayar signed a financial treaty for the “Ger District Development and Investment” program, with the resident representative of the Asian Development Bank (ADB) in Mongolia, Robert Schoellhammer, on Monday.

The program will run for nine years and aims to redevelop ger districts in Ulaanbaatar. The program will include initiatives to improve water and heating supplies, sewage treatment service, strengthen socioeconomic infrastructure, provide financial support to micro businesses, and improve the skills of executors in charge of redevelopment projects.

The program will also include initiatives to build new paved roads, specialized vocational centers and parks will be established to upgrade the living conditions of ger district residents.

According to the treaty, the ADB will provide 224 million USD, while the government of Mongolia will provide 96 million USD for the program.

The treaty and financial sources will be discussed and approved at the ADB’s board council meeting on December 12, 2013.

 

 

 

Short URL: http://ubpost.mongolnews.mn/?p=7029

Posted by on Dec 17 2013. Filed under Domestic. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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