Tokyo extends US$850m in loans to Mongolia as part of bailout deal

Tokyo

JAPAN has pledged US$850 million in loans to Mongolia as part of a US$5 billion multilateral and bilateral bailout package being coordinated by the International Monetary Fund (IMF) to support the country's struggling economy.

Japan and South Korea will together provide up to US$3 billion in aid to cash-short Mongolia, according to the IMF.