India will grant loan of $25 million to Mongolia

Dec 9 • Finance, State Affairs • 426 Views • No Comments on India will grant loan of $25 million to Mongolia

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Standing Committee on Security and Foreign Policy of SGK was held and discussed the issue of adopting Mongolia – India Governmental Agreement on stability loan. According to the agreement, Mongolia is entitled to receive loan of $25 million for 30 years with annual interest rate of 1%.

It will be used for covering budget loss of Mongolia in year 2010. It was transferred to the State Fund account and it was already allocated in the budget of 2010. The issue was supported by MPs of the Standing Committee and will be proposed to the general session of the State Great Khural.

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