Austria to render 12 million euro loan for infrastructure projects in Mongolia

AKIPRESS.COM - Within the Financial Cooperation Agreement between Mongolia and Austria, the projects titled ‘Infrastructure Development - Songinokhairkhan' and ‘Infrastructure Development - Bayanzurkh, Darkhan, and Selenge' will be implemented from 2019 to 2021 with a soft loan worth EUR 12 million from Austria, Montsame reports.
The agreement on implementation of the projects was signed on July 19 by S.Magnaisuren, State Secretary of the Ministry of Construction and Urban Development and Alfred Felder, CEO of the contractor - Austria's Zumtobel Lighting GmbH.
Under the projects, infrastructure development works will be carried out in the highly populated areas with poor infrastructure development including Songinokhairkhan and Bayanzurkh districts, Darkhan city, and Selenge aimag and streetlights with the latest energy efficient and bright lamps will be installed in ger areas of the remote bags and micro-districts.