PM meets U.S. Ambassador

Ulaanbaatar /MONTSAME/ Today, Prime Minister J.Erdenebat received U.S. Ambassador Jennifer Zimdahl Galt and some US business representatives from Polaris Asset Corporation, General Electric and J.P. Morgan. The Ambassador expressed her readiness to help the Government of Mongolia in all aspects during the period of economic difficulties. Ambassador Jennifer Zimdahl Galt wished success in ongoing talks between the Government of Mongolia and the International Monetary Fund and stated that the embassy would cooperate to successfully implement the second compact of US Millennium Challenge Corporation in Mongolia. General Electric is working together with ‘Erdenes Mongol’ company to implement a liquefied coal project (producing petroleum and other byproducts through liquefying coal), financed by J.P.Morgan. The project will bring positive impacts to the citizens and the economy, ensuring energy independence of Mongolia, reducing air pollution of Ulaanbaatar, lowering dependence on imported oil and reducing outflow of money, underlined the project team member. After the project completion, the coal liquefaction plant will be transferred to the ownership of Mongolia. PM J.Erdenebat said the government would support this kind of project that the project implementer had found financial source or the investor. PM also underlined the project should be realized without delay. “Although Mongolia now faces economic difficulties, it is a country with very high promising future and our economic growth will achieve high. Therefore, considering the market, the main raw material reserves and future of Mongolia, you can be confident that you are implementing prudent and non-risky project.