JAPAN TO GRANT MONGOLIA LOAN OF JPY 4.2 BILLION

Ulaanbaatar /MONTSAME/ JICA approved an agreement to grant the Mongolian Government a soft loan of JPY 4.2 billion, with annual interest of 0.3%. Within the 40-year loan to be granted under the above agreement between the Government of Mongolia and Japan International Cooperation Agency (JICA), the power plant-4 renewal project includes equipment and facilities renovation to increase the energy production efficiency and to ensure reliable energy supply. The project is planned to be completed in August of 2017. This project aims at not only increased economic benefits, but also at reduced negative ecological impacts and better living environment for the city. The power plant-4 meets seventy percent of the total energy needs of Ulaanbaatar. During the renovations, the power plant will be operational at its regular mode.