EBRD Funds Mongolia’s First Coal Washing Plant

    Mongolia wins funding from the European Bank for Reconstruction and Development for the construction of the country's first coal washing plant. Johannes Lundberg / CC BY-NC-SA Johannes LundbergCC BY-NC-SA

    The European Bank for Reconstruction and Development will provide a USD180 million loan to finance the construction of Mongolia’s first coal washing plant.

    To date, the loan is EBRD’s largest investment in Mongolia, according to a news release from the bank.

    The loan will be extended to private Mongolian mining company Energy Resources, which operates and owns the Ukhaa Khudag coal mine. It will be used for the construction of a coal handling and preparation plant at the said mine.

    The plan is expected to help Energy Resources increase its exports and boost its competitiveness in local and international markets.

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.