During Cabinet meeting held yesterday the Government approved Development Bank to finance the Ger Area Redevelopment at the 7th khoroo housing complex G with the loans from the Chinese Exim Bank through the State Housing Corporation.
The resolution monitoring was ordered to be conducted by Minister of Finance J.Erdenebat and Minister of Construction and Urban Development D.Tsogtbayar.
During the high level state visit of Xi Jinping to Mongolia last year executives of Exim Bank of China have signed the loan agreement to provide funds for the Ger Area Redevelopment at the 7th khoroo housing complex G.
In accordance with the above mentioned loan agreement State Housing Corporation and the Beijing Uni Construction Group have signed an agreement to develop Ger Area Redevelopment at the 7th khoroo housing complex G in three stages on January 7th of 2015. Total cost of the project is USD 221.447.5 thousand and 85 percent of it agreed to be issued through Development Bank of Mongolia and 15 percent through the State Housing Corporation.
The implementation of the project will ensure the housing for the 4460 households and add the supply of the housing to the market.
During Cabinet meeting held yesterday the Government approved Development Bank to finance the Ger Area Redevelopment at the 7th khoroo housing complex G with the loans from the Chinese Exim Bank through the State Housing Corporation.
The resolution monitoring was ordered to be conducted by Minister of Finance J.Erdenebat and Minister of Construction and Urban Development D.Tsogtbayar.
During the high level state visit of Xi Jinping to Mongolia last year executives of Exim Bank of China have signed the loan agreement to provide funds for the Ger Area Redevelopment at the 7th khoroo housing complex G.
In accordance with the above mentioned loan agreement State Housing Corporation and the Beijing Uni Construction Group have signed an agreement to develop Ger Area Redevelopment at the 7th khoroo housing complex G in three stages on January 7th of 2015. Total cost of the project is USD 221.447.5 thousand and 85 percent of it agreed to be issued through Development Bank of Mongolia and 15 percent through the State Housing Corporation.
The implementation of the project will ensure the housing for the 4460 households and add the supply of the housing to the market.