Minister Mr. Delgersaikhan Borkhuu welcomed the Ambassador Extraordinary and Plenipotentiary of the European Union to Mongolia, Ms Ina Marciulionyte. Officials from the European Investment Bank also attended this meeting. All sides exchanged views on further cooperation between European nations and Mongolia, specifically the potential financing options from the European Investment Bank.

The Minister presented some existing road expansion projects that might interest EIB. Specifically, the Lun to Kharakhorum Road and Zamyn–Uud to Khushig Valley Road, also known as the horizontal axis road.

“The horizontal axis 1000km road has high significance in the region since it connects the two neighboring countries, handles 78% of the imported goods movement, and connects the capital city to Zamyn-Uud port, which is one of the largest import and export hubs in the country, so the expansion of this road is inevitable,” said the Minister.

He also mentioned that the high demand for travel on this road could translate into tolls, which could support the financing of maintenance and loan repayments later.

EIB officials also expressed interest in these projects and will do further research on data from the Ministry. Ambassador Marciulionyte said she would support this matter and is ready to work closely with the Ministry. The Ambassador has experience in transport projects from her service as an Ambassador to the Lao Peoples Democratic Republic.

At the end of the meeting, the Ambassador invited the Ministry officials to participate in the business forum of European companies operating in Mongolia, Russia, and China. In this forum, scheduled for October 13th and 14th this year, the Ministry officials could share projects with European companies.