Russia extends Mongolia a 100 billion ruble loan

Representatives of Russia and Mongolia held talks on economic cooperation.

According to the head of the Mongolian Ministry of Foreign Affairs Tsendiyn Munkh-Orgil, the Russian side promised to provide the country a preferential short term loan in the amount of 100 billion rubles.

“The Mongolian side adheres to the position of the joint implementation of major infrastructure, energy projects, as well as for the Ulan Bator Railway from the preferential credit of the Russian Federation,” said the minister.

The two sides also discussed improvement of the Mongolian-Russian-Chinese economic corridor. Afterwards negotiations should take place concerning the energy sector, in particular, the construction of hydropower plants on the river Eg, reports Mongolnow.

  Russia, Mongolia, loan