25 Million Eur Credit Line Offered By the Hungarian Export-import Bank

Mongolian and Hungarian representatives meeting in Ulaanbaatar

During a meeting with Mayor of Ulaanbaatar S.Batbold, Deputy Mayor of Budapest in Charge of Finance Gabor Bagdi said that the Hungarian Export-Import Bank is offering 25 million EUR in loans to Mongolia for the implementation of several projects.

Mongolia is expected to use the loan line to fund a bus fabrication factory, building a floodgate on the Tuul River, ecosystem improvement, construction of a recreation center, and establishing a Smart Town under the Smart Ulaanbaatar Project.

During their meeting, the parties exchanged views on expanding cooperation between Ulaanbaatar and Budapest, and agreed to collaborate in several directions. Deputy Mayor Bagdi presented Mayor Batbold with a memorandum of understanding on cooperation between the two cities, which was signed last December.

Mayor Batbold wished the Hungarian delegation a nice stay in Ulaanbaatar. He said, 'Last year, Mongolia and Hungary...