ADB signs local-currency loan for Mongolian company – eDairyNews
China Mongolia |2 diciembre, 2019

Dairy | ADB signs local-currency loan for Mongolian company

The Asian Development Bank (ADB) on Monday signed an agreement on a local-currency loan equivalent to 7.5 million U.S. dollars with Mongolia’s dairy company Milko LLC.

The loan in the Mongolian tugrik is intended to support Milko’s plans to expand its business and create jobs in its supply chain.

«Investing in agricultural value chains can yield solid economic and development impacts,» Pavit Ramachandran, ADB country director for Mongolia, said at the signing ceremony.

Ramachandran said he believes it is good news for rural households in the East Asian country, where about one-third of the national population live in rural areas and their livelihoods mainly depend on animal husbandry and milk production.

Milko LLC is a subsidiary of Teso Corporation, which is a leading food, dairy and beverage products group in Mongolia.

The ADB loan to Milko is expected to increase the latter’s exports to countries such as China and Kazakhstan.

Legal notice on Intellectual Property in digital content

All information contained in these pages that is NOT the property of eDairy News and is NOT considered "in the public domain" by legal regulations, are trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the norms contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable norms.

Any claim arising from the information contained on the eDairy News website will be submitted to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentine Republic, with a seat in the City of Córdoba, to the exclusion of any another jurisdiction, including the Federal.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Related news