The signing ceremony of the first stage of Memorandum of Cooperation aimed at providing affordable housings for low income families (ger area families) which is being implemented by the Asian Development Bank in cooperation with the Government of Mongolia was held yesterday.
MP and Minister of Finance B.Bolor, City Governor and City Mayor E.Bat-Uul and Director of ADB representative office in Mongolia Mr. Robert Schoellhammer have attended in the signing ceremony.
"The main purpose of the Memorandum of Cooperation signed today is to construct affordable housings and public service buildings in strategically important ger-areas which provided sustainable engineering infrastructure. By implementing this project, affordable 10 thousand housings to be constructed and 130 hectares of ger-areas to be redeveloped", stated by the City Mayor E.Bat-Uul.
Preliminary total cost for affordable housing project is expected at USD 500 million of which USD 350 million to be invested by the commercial banks and real estate businesses.
Project feasibility study to be finalized in September, 2016 and the implementation process of project to start after the approval of the Government and BoDs of ADB in early 2017.
The signing ceremony of the first stage of Memorandum of Cooperation aimed at providing affordable housings for low income families (ger area families) which is being implemented by the Asian Development Bank in cooperation with the Government of Mongolia was held yesterday.
MP and Minister of Finance B.Bolor, City Governor and City Mayor E.Bat-Uul and Director of ADB representative office in Mongolia Mr. Robert Schoellhammer have attended in the signing ceremony.
"The main purpose of the Memorandum of Cooperation signed today is to construct affordable housings and public service buildings in strategically important ger-areas which provided sustainable engineering infrastructure. By implementing this project, affordable 10 thousand housings to be constructed and 130 hectares of ger-areas to be redeveloped", stated by the City Mayor E.Bat-Uul.
Preliminary total cost for affordable housing project is expected at USD 500 million of which USD 350 million to be invested by the commercial banks and real estate businesses.
Project feasibility study to be finalized in September, 2016 and the implementation process of project to start after the approval of the Government and BoDs of ADB in early 2017.