On 8 October, the State secretary of the Ministry of Finance of Mongolia, Mr Ganbat Jigjid, and the President of the European Bank for Reconstruction and Development (EBRD), Ms Odile Renaud-Basso, sign “Choir-Sainshand Transmission Line Project” additional Grant Agreement  of EUR 8 million from the European Union. This is part of the EUR 79.67 million ( MNT 300 billion) financing aimed at enhancing Mongolia's energy infrastructure and supporting the country's economic development, which consists of EUR 8.4 million grant from the European Union, EUR 64.6 million loan from the EBRD, and EUR 6.7 million in technical assistance from donors, including Japan.

Ms Ina Marčiulionytė, Ambassador of the European Union to Mongolia highlighted during the signing ceremony “Increasing the production and the consumption of renewable energies is at the heart of the economic independence, and it is aimed at stimulating the sustainable development of Mongolia”.

“Choir-Sainshand Transmission Line Project” will fund the construction of the 220 km-long Choir-Sainshand double circuit 220kV transmission line, as well as the substations at Choir and Sainshand. The Project Implementing Unit is working under the supervision of the Ministry of Energy and the building works are due to start in 2025, and end in 2027.

The Project is expected to improve interconnection of the electricity transmission network, minimize transmission losses, increase electricity from renewable energy in the power system and reduce environmental impact.

In 2024, the European Union and Mongolia celebrate 35^th anniversary of establishment of diplomatic relations this year.