Mongolia to receive loan worth over 230 mln USD from Japan

0 Comment(s)Print E-mail Xinhua, October 9, 2020
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ULAN BATOR, Oct. 9 (Xinhua) -- Mongolia will get a soft loan worth more than 230 million U.S. dollars from Japan to deal with its economic fallout resulting from the COVID-19 pandemic, Mongolian Foreign Minister Nyamtseren Enkhtaivan said Friday.

"We agreed to deepen the Mongolia-Japan Strategic Partnership in a wide range of areas such as politics, defense, trade, economy, agriculture, culture and education," Enkhtaivan told reporters after he held official talks with his visiting Japanese counterpart Toshimitsu Motegi here on Friday.

In addition, the Japanese government will provide a loan worth over 230 million dollars to Mongolia on very favorable terms or with an interest rate of 0.01 percent, said Enkhtaivan.

The COVID-19 Emergency Response Loan is expected to be spent on mitigating the social and economic impact of the pandemic, stabilizing the economy and supporting citizens and businesses. Enditem

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