AKIPRESS.COM - Ulaanbaatar is hosting today the 3rd meeting of the Mongolian-South Korean Intergovernmental Commission.

At the meeting, the parties will finalize spending and purpose of USD 500 million soft loan to be granted by Korea.

Specifically, during his visit to South Korea in January, Prime Minister U.Khurelsukh signed an agreement on Issuance of Soft Loan from Economic Development Cooperation Fund in 2017-2019. Within the framework of the agreement, Mongolian Government will receive a soft loan of KRW, equaling USD 700 million that will have an annual interest of 0.2 percent and 30 years of repayment term with 10 year moratorium period, Montsame reports.

A working group from Korea has made projects' study in March in Mongolia and the sides will finalize it at today’s meeting. The meeting is being attended by 13 delegates from the both countries and Foreign Affairs Minister D.Tsogtbaatar and Environment and Tourism Minister N.Tserenbat are among them.