On 9 April, in the presence of Chinese Premier Li Keqiang and the Mongolian Prime Minister Khürelsükh, Liu Liange, President of China Eximbank, and Khürelbaatar, Mongolian Finance Minister signed the loan agreement for the Expansion Project of Erdenet Thermal Power Station at the Great Hall of the People, Beijing.
The project aims to expand the capacity and upgrade the existing thermal power plant. Upon completion, it will not only boost the country’s energy utilization efficiency and reduce environmental pollution, but also meet the power consumption and heat supply needs of residential areas and neighboring enterprises. At the same time, it is expected to alleviate the power shortages and reduce Mongolia’s dependence on foreign energy. Therefore, the project will produce good environmental and social benefits.
So far, China Eximbank has financed such areas in Mongolia as mineral resources, municipal transportation, power, agriculture, communications, education, and infrastructure. In this way, it has helped align China’s Belt and Road Initiative with Mongolia’s Road of Development and strengthened ties for mutual communication and cooperation. China Eximbank will continue to leverage its leading role of providing policy financing for trade and economic cooperation between China and Mongolia, and make even greater contribution to deepening bilateral economic cooperation.
News Release
2023