During the 2015 “St Petersburg International Economic Forum”, N.Munkhbat, chairman of Mongolian Development Bank and first deputy chairman of Russia’s Vneshekonom Bank Mr Petr Fradkov signed an investment contract for USD 20 million. This investment is the refund of the USD 70 million financed by Chinggis Bonds, for the extension of Power Plant 4, which has been supplying Ulaanbaatar with power since 1980.

Mr. Enkhbat said – “the Power Plant 4 extension was launched at the beginning of 2015. The station has been providing electricity since 1980. This contract is the result of discussions which have been going on for almost a year. We hope that we will co-operate in many projects with Vneshekonom Bank in the future”.