As a part of a financial cooperation agreement between the Mongolian and Austrian governments, an export credit facility to the value of EUR 7 million has been agreed. This sum will be used for a project entitled: ‘Water and Sewer Improvement in Ulaanbaatar’. The project financing agreement was signed in Vienna on 27^th of September. The project will help to repair water and sewer underground pipes in situ without digging. The export credit is interest free and does not need to be paid back for 17 years.

A financial cooperation agreement between the Mongolian and Austrian governments was signed in 2011.