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Mayor G.Munkhbayar has asked Huan Chan Cho, director of theInternational Financial Corporation (IFC) for China and Mongolia to build 400
apartments for households preseently living in the ger districts. The IFC is
part of the World Bank and supports the private sector. For its Ulaanbaatar
project, IFC is cooperating with Khan and Khas Banks and MCS LLC.
The Mayor explained that the Ulaanbaatar Civil Representatives’ Assembly will
this month discuss the issue of giving long-term and low-interests loans to 400
households to leave ger districts. Apartments will come up in the vacated area.
He also asked for IFC help in the city’s public transportation.
