Mongolia, World Bank sign 21 mln USD financing agreements
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E-mail Xinhua, September 7, 2020
ULAN BATOR, Sept. 7 (Xinhua) -- Mongolia and the World Bank have signed two agreements totaling 21 million U.S. dollars to mitigate the impact of the COVID-19 pandemic on the economy and society and protect medical workers from the virus, Mongolian Finance Minister Chimed Khurelbaatar said Monday.
The agreements were signed by Khurelbaatar and Andrei Mikhnev, World Bank country manager for Mongolia, here on Monday.
Of the total amount of the financing, 20 million dollars are a soft loan to provide temporary relief to eligible workers and employers in response to the COVID-19 pandemic and help provide the country's jobseekers and micro-entrepreneurs with improved access to labor market opportunities, Khurelbaatar said.
The remaining non-refundable aid of 1 million dollars will be spent on protecting Mongolian health care workers who are working on the front line against the novel coronavirus, he added.
The Asian country has confirmed 310 COVID-19 cases so far, with no local transmissions or deaths. Enditem
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