Japanese ODA Loan to Mongolia
June 30, 2009
- The Government of Japan has decided to extend to the Government of Mongolia
a Japanese ODA loan (Social Sector Support Program) of up to 2.894 billion
yen to assist the country’s efforts for economic and social development.
Notes to this effect were exchanged on June 30 (Tue) in Ulan Bator between
Mr. Takuo Kidokoro, Ambassador of Japan to Mongolia, and Mr. Sangajav Bayartsogt,
Minister of Finance of Mongolia.
- Outline and Importance of the Project
This ODA loan is being extended as part of budget support under the current financial crisis. In cooperation with the Asian Development Bank (ADB), considering the adverse impacts that the economic crisis has on the poor, this ODA loan will help protect the poor and strengthen responses to the economic crisis in the future by providing aid to improve basic social services for the poor and reform for securing social sector expenditures.
In addition, this ODA loan is being extended as part of the 2 trillion yen in ODA support to realize the Asian Growth Initiative that Prime Minister Taro Aso announced in April 2009.
- Terms and Conditions
(1) Interest: 0.8% per annum
(2) Repayment period: 30 years (including a 10-year grace period)
(3) Procurement: General untied