AKIPRESS.COM - Parliament of Mongolia ratified the General Program of Financing signed by the Government of Mongolia and the World Bank's International Development Association (IDA).

Ratification of the program enables Mongolia to receive $79 million credit from IDA during 2015-2017.

The money is expected to be dedicated to projects on promoting employment, sustainability of economy, government budget and financial sector, improving energy distribution capacity and increasing the supply of electricity to the western region of Mongolia, as reflected in the strategic document of the Government of Mongolia and the World Bank, the state news agency of Mongolia reported.