State Housing Corporation of Mongolia’s unfinished projects to be financed by DBM www.gogo.mn
It was decided by Cabinet that Development Bank of Mongolia (DBM) would finance State Housing Corporation of Mongolia's unfinished projects.
Due to a lack of financing, residential construction projects in Ulaanbaatar, Gobi-Altai, Dundgobi, Orkhon and Khuvsgul provinces have been stopped. As State Housing Corporation's maximum financial liability has been reached, it has become impossible for the state-owned company to obtain additional loan financing. DBM is expected to provide financing of 54 billion MNT for the unfinished projects. Minister of Construction and Urban Development Kh. Badyelkhan said, “The construction work will be completed by November 2018.”
Published Date:2018-03-30