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Mongolia asks Russia to grant $1,6bn loan for unknown purpose

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Mongolia asks Russia to grant $1,6bn loan for unknown purpose

Mongolia addressed Russia with the request to grant it a concessional loan of 100 billion rubles ($1,6 billion), but did not specify the purpose of the loan, Interfax reports with reference to the protocol of the 20th meeting of the intergovernmental commission on trade-economic and scientific-technical cooperation held with the participation of the representatives from both countries.


“Because of the absence of information on the Mongolian part about the purpose of the requested loan and its financial parameters acceptable to the Mongolian party, the Russian party has no possibility to examine the partners’ request”, – as it was stated in the protocol.

In addition, Mongolia asked the Russian state-owned VTB Bank to provide a loan of $200 million for the purpose to conduct long-term purchases of Russian oil products.

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