China Eximbank provides $23.7 million preferential buyer’s credit for Competitive Higher Education Project (Linked to Project ID#49148)

On November 10, 2015, China Eximbank and the Government of Mongolia signed a general loan agreement regarding the utilization of a $1 billion preferential buyer's credit (PBC) for various projects (as captured in Project ID#49148). Under the terms of the general loan agreement, all subsidiary (individual) loan agreements for specific projects carry identical borrowing terms: 20 year maturity, 7 year grace period, 2% interest rate, 0% management fee, and 0.25% commitment fee. Then, in 2016, China Eximbank and the Government of Mongolia signed a $23.7 million subsidiary loan (PBC) agreement for the Competitive Higher Education Project. The purpose of this project is to furnish a new library at the National University of Mongolia and expand and equip the 6th building of the National University of Mongolia in the city of Ulaanbaatar. As of February 2019, construction was underway.

Additional details

1. The Mongolian project title is Өрсөлдөх чадвартай дээд боловсрол төсөл or МУИС-ын 6-р байрны өргөтгөл or МУИС-ийн хичээлийн 6 дугаар байрыг шинэчлэн барих ба номын сангийн автоматжуулалт, мэдээлэл сүлжээний аюулгүй байдлыг хангасан орчин үеийн ухаалаг систем бүхий . 2. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.

Number of official sources

3

Number of total sources

5