One of these was on a Chinese Government soft
loan of USD500 million that would be spent in the agriculture, education,
health and infrastructure sectors. It was agreed that all work to be
implemented with the loan would have to be undertaken by Mongolia-China joint
ventures. Projects executed with previous Chinese loans were always implemented
by Chinese companies.


The Chinese Government has also given a grant of 60 million yuan to be spent on
repairing Beijing Street in Ulaanbaatar, the address of the Chinese embassy. It
will also be used to build accommodation for students in Nalaikh district and other
apartments.