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Second compact to address water issues in Ulaanbaatar www.montsame.mn
Ulaanbaatar /MONTSAME/ During its regular meeting on April 26, Wednesday, the Cabinet discussed and approved an agreement on the implementation of the nonrefundable aid for the formulation of Millennium Challenge Corporation compact proposal. Minister of Foreign Affairs Ts.Munkh-Orgil was authorized to sign the agreement.
With establishment of the agreement within this month, it will be possible to launch the technical and economic feasibility study on the projects of the compact by this June. The Mongolian government plans to propose the final report of the feasibility study by November this year and sign the compact within the first quarter of next year.
The agreement comprises 7 articles and 4 annexes, reflecting the responsibilities of the sides in formulating and ensuring the initial preparation of the compact, financing measures, tax exemption and other conditions.
In the frameworks of the Millennium Challenge Corporation activities, measures on increasing Ulaanbaatar water supply with underground sources, reusing recycled water for industrial purposes, bringing about policy and institutional reformation in water sector and improving the legal environment will be forwarded.
In addition to the compact funds, the Millennium Challenge Corporation will also provide USD 10 million and 500 thousand fund to cover the compact pre-implementation costs.
Kh.Aminaa
Published Date:2017-04-27
