MONGOLIAN GOVERNMENT AND THE MILLENNIUM CHALLENGE CORPORATION CONCLUDED THE NEGOTIATIONS ON THE SECOND COMPACT AGREEMENT

Foreign Minister D. Tsogtbaatar, who is visiting the United States, met with Mr.     J. Nash, Acting CEO of MCC, and other officials, and attended the final round of negotiations on the Second Compact Agreement, to be signed between the Government of Mongolia and the MCC.

From Mongolian side, the negotiations were headed by the State Secretary of the Ministry of Finance of Mongolia and attended by the representatives of related Ministries and agencies of the Government of Mongolia. Under the Second Compact Agreement, USD 350 mln. will be granted to increase the bulk water supply of Ulaanbaatar. The two sides are now working towards final preparations of the Agreement, which is expected to be signed during a high-level visit.

Under the First Compact Agreement in 2008-2013, Mongolia received USD 285 Mln. MCC grant, which was successfully utilized for implementation of 6 projects for health, vocational education, peri-urban pasture management, property rights, roads and clean air sectors.