(Feb, 04) Today, joint meeting between Budget Standing Committee and Economic Standing Committee was held and supported to loan worth of $25 million from Asian Development Bank (ADB). Further, it will be discussed by Plenary Session of Parliament.
The concessional loan of $25 million will be paid back within the 25 years and annual 2% interest.
The concessional loan will be funded to purchase practice equipments for students of technical and vocational education and training (TVET).
Therefore, MP S.Ganbaatar said: "I agree that the loan will be invested to education sector. However, I want to know how much percent of the loan will be spent on equipments due to most of costs are paid to foreign consultants. Moreover, equipments with worth of MNT 30 million are purchased with MNT 300 million."
In response, S.Chinzorig, the Minister of Labour said: "73% of total loan to purchase equipment, 3% to consulting service and 24% to operating service."
Standing committee meeting had attendence of 22 members out of 35 and 100% voted to support.
(Feb, 04) Today, joint meeting between Budget Standing Committee and Economic Standing Committee was held and supported to loan worth of $25 million from Asian Development Bank (ADB). Further, it will be discussed by Plenary Session of Parliament.
The concessional loan of $25 million will be paid back within the 25 years and annual 2% interest.
The concessional loan will be funded to purchase practice equipments for students of technical and vocational education and training (TVET).
Therefore, MP S.Ganbaatar said: "I agree that the loan will be invested to education sector. However, I want to know how much percent of the loan will be spent on equipments due to most of costs are paid to foreign consultants. Moreover, equipments with worth of MNT 30 million are purchased with MNT 300 million."
In response, S.Chinzorig, the Minister of Labour said: "73% of total loan to purchase equipment, 3% to consulting service and 24% to operating service."
Standing committee meeting had attendence of 22 members out of 35 and 100% voted to support.