ADB signs loans and grants of $100 million loan for the COVID-19 Rapid Response Program, $30 million additional financing for the Fifth Health Sector Project to further strengthen the country’s preparedness and response to COVID-19, and $100 million loan and $3 million grant for the First Utility Scale Energy Storage Project.

The Asian Development Bank (ADB) and the Government of Mongolia today signed two loans to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic and one loan and grant to install the country’s first large-scale advanced battery energy storage system (BESS).

The loans and grant comprise of $100 million loan for the COVID-19 Rapid Response Program, $30 million additional financing for the Fifth Health Sector Project to further strengthen the country’s preparedness and response to COVID-19, and $100 million loan and $3 million grant for the First Utility Scale Energy Storage Project.

Funding agencies: Asian Development Bank (ADB)

Countries:

Published: 2020-05-14

Sectors: Health, Power and Electrical, Services