AKIPRESS.COM - The Governor's Office of Ulaanbaatar and the Export Credits Guarantee Department, branded as UK Export Finance, the United Kingdom's export credit agency, have signed a Memorandum of Understanding on cooperation, Montsame reported

Governor of the Capital City and Mayor of Ulaanbaatar Nyambaatar Khishgee and Co-Head of Global Business Origination for UK Export Finance Emma Thomas signed the Memorandum of Understanding during the Mongolia Economic Forum 2025 on July 9.

Under this Memorandum, the UK side will support infrastructure development projects in Mongolia, particularly in public transportation, including the Ulaanbaatar Metro. The document outlines plans to supply UK goods and services to these initiatives and accelerate financial arrangements for the metro project.

"The Ulaanbaatar Metro is not only a strategic solution to urban traffic congestion, but also marks a new chapter in economic cooperation between Mongolia and the United Kingdom. We have signed a contract with JP Morgan, and since April this year, the bank has been evaluating the city’s financial records from the past three years. Moving forward, we will conduct legal and regulatory assessments and actively work with UKEF to secure international financing," said Mayor Nyambaatar.

The planned Ulaanbaatar Metro line will stretch 19.4 kilometers from Tolgoit to Amgalan, featuring 15 stations and one depot. The line is expected to transport up to 17,200 passengers per hour.

According to a revised feasibility study, the metro will reduce traffic congestion by 10% and increase average travel speeds by 18%. Commute times will also be significantly reduced—from 45 minutes by bus to just 15 minutes by metro. Additionally, the project is expected to stimulate small and medium enterprises around the stations' areas.

https://m.akipress.com/news%3A838948%3AMayor_of_Ulaanbaatar_signs_MoU_with_UK_Export_Finance_to_support_metro_project/