Life in Rural Kyrgyzstan
Mongolia|economy|June 20, 2019 / 04:24 PM
Hungary to grant $57 million loan to Mongolia

AKIPRESS.COM - The Hungarian side backed up an issue to grant $57 million loan for technical renovation of Biocombinat and improving its products in Mongolia, Montsame reports.

“Hungary is a country that developed food and agricultural technologies well. Therefore, by cooperating with the country in agricultural sector, conditions will be created for Mongolia to create jobs, diversify its economy and get rid of dependency on mining,” Mongolian Foreign Affairs Minister Damdingiin Tsogtbaatar said.

Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto visited Mongolia today.

Following his attendance in inter-regional conference on ‘Whole-of-Society-Approach’ to preventing and countering violent extremism and radicalization that lead to terrorism which commenced today at the Ministry of Foreign Affairs of Mongolia, Mr. Peter Szijjarto held an extended meeting with Foreign Affairs Minister Damdingiin Tsogtbaatar.

The Foreign Affairs Ministers reported that they talked over cooperation opportunities in Biocombinat’s renovation and agricultural sector during the meeting.

The parties exchanged views on expanding cooperation in education, arts and cultural spheres. 200 Mongolian students study in Hungary every year with the country’s scholarship. Minister Tsogtbaatar said he believes the scholarship would be granted permanently to the students in the future.

“Mongolia will cooperate with Organization for Security and Co-operation in Europe to combat with criminal groups which implicate people of small countries in illicit cross-border trafficking. We discussed cooperating with Hungary in this direction as well,” he added.

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