Mongolia strikes USD21 million deal with World Bank


Mongolia and the World Bank have struck two deals having a value of USD21 million in order to lessen the effects of coronavirus on the economy, according to Mongolian Finance Minister Chimed Khurelbaatar on Monday.

Khurelbaatar and Andrei Mikhnev, World Bank country manager for Mongolia, have signed the deals on Monday.

USD20 million out of the total amount are a soft loan to give temporary relief to workers and employers affected by the coronavirus outbreak and help give the jobseekers and micro companies in the country an improved access to labor market opportunities.

The rest of the non-refundable aid, equaling USD1 million is going to go for protecting Mongolian health care employees who are currently working on the front line against the coronavirus outbreak.


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