The Asian Development Bank (ADB) will offer 37.6 million US dollars in a grant to help Mongolia embark on a road project linking western Mongolia to China and Russia, according to a deal signed here on Friday.
Under the agreement, the first phase of the project will cover a stretch of 431 km linking China and Mongolia's western Hovd province. Construction will start next year and will be completed in 2012.
The second phase covers 317 km linking Mongolia to Russia and is scheduled to break ground no later than 2010.
The ADB said the project is estimated to cost a total of 200 million dollars and upon completion, the road will become part of the Asian highway network, a road system linking Asia and Europe.
Source: Xinhua
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