ADB Grants US$125 mn loan for Mongolian Road Development Project

Jun 17 • Featured, Infrastructure, News • 11050 Views • No Comments on ADB Grants US$125 mn loan for Mongolian Road Development Project

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According to UB Post Newspaper, Asian Development Bank (ADB) and the Ministry of Economic Development of Mongolia signed an agreement to provide US$125 mn loan financing for the second phase of the Western Regional Road Corridor Development Project under a 15 year term with a five year grace period. The road project, which will connect Khovd Province to Khashaat Davaa-Tolbo soum of Bayan Ulgii Province, and from Nogoonnuur soum of Bayan Ulgii Province to the Ulaanbaishint border checkpoint in Tsagaannuur soum of Bayan Ulgii, totals a 189.7 km and is expected to be completed by 2016.

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