PREMIER INFORMS PARLIAMENT ON SPENDING OF GOVERNMENT BONDS

Ulaanbaatar /MONTSAME/ At a parliamentary session meeting on last Friday, the Prime Minister N.Altankhuyag informed on projects financed from the Genghis Bond of the Government of Mongolia. By the end of March 2014, the Government has granted financing of 1.3 trillion togrog from its bond capital to ten projects, including a road pavement project connecting province centers to the capital city, a so-called Street project in Ulaanbaatar, municipal engineering and infrastructural projects, a new railway project, power plant projects in Tavantolgoi and Eg River, a Buyant Ukhaa apartment district project, and import substitution and industrialization projects , said Mr Altankhuyag. Under the road project, Dundgovi-Ulaanbaatar and Bayankhongor-Ulaanbaatar roads have thus far come to services, and road construction linking Omnogovi, Dornod, Sukhbaatar and Khovsgol provinces to Ulaanbaatar are expected to be completed by this August, noted the Prime Minister, ‘a 68% of a total 1,800 km roads have been paved under funding from the bond money’. The Government is planning to build a 1,800 km railway under its ‘New Railway’ project, said the Premier, ‘a US$ 164.2 million construction of 267 kilometers of railway is being financed by the Genghis bonds’.