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ADB OFFERS $500MN LOAN TO FINANCE BOGDKHAN RAILROAD PROJECT

Asian Development Bank has agreed to loan USD 500 million to the Mongolian government to launch a railway construction project that would provide a gateway to the international airport currently under construction at Khushigt Valley.
State Secretary for Transportation and Roads Yo. Manlaibayar and ADB Senior Transport Specialist Sharad Saxena on 3 October signed a memorandum cementing the project, for which ADB is also providing an additional USD 550,00 for research. The route will run from the south of Bogd Khan Mountain to the Rashant Station and Batsumber Soum, and will pass through the airport along the way. There will also be a stop in Ulaanbaatar to pick up freight and passengers, including those traveling between Russia and China.

Source: InfoMongolia.com