Funded by 32.0 billion yen, “Loan Policy, Social and Economic Development Development Loan”

Author: Ministry of Finance

Published date: 29/12/2017

December 19, 2017

The Government of Mongolia has taken part in the three-year implementation of the IMF program in the framework of the "Financing of the Extended Funding Program" jointly with the IMF, with the Japanese government supporting the US $ 850 million equivalent of the budget.

The Financing Agreement on Financing of the Budget, Social and Economic Development Development at the first stage of the Financing Agreement was held on December 5, 2017 by Finance Minister Ch.Khurelbaatar and First Deputy President of Japan Cooperation Organization K.Koshikawa letter.

Financing of 32 billion yen loan agreed to this agreement on December 19, 2017 on the Treasury Single Treasury Account. This loan is a very concessional, long-term loan. The interest rate is 0.8% per annum, advance payment is 0.1%, repayable period 20, and 6 year grace period.