Press Releases
U.S. Trade and Development Agency Grant to Sharyn Gol JSC signifies deepening relationship between US and Mongolian commercial interests
The American Embassy, on behalf of the US Trade and Development Agency (USTDA), is extremely pleased to join Sharyn Gol JSC and TERA International Group, Inc. (TERA), in a signing ceremony that signifies the deepening relationship between US and Mongolian commercial interests.On March 3, 2008, Ambassador Mark C. Minton signed a USTDA grant to Sharyn Gol JSC. The $500,000 grant will fund a feasibility study for procurement of transport equipment and construction of an 86 km branch railroad line from the Sharyn Gol coal mine to the existing main north-south railway line. The new railway would replace the truck traffic that currently carries coal from the mine, thereby reducing the amount of journeys needed, cost of transport, and significantly reducing the level of air and ground pollution generated through vehicle emissions and dust.
In June 2007 USTDA granted $500,000 to EZnis Airways for a feasibility study and business plan development to prepare a comprehensive expansion plan for the airline through 2011.
In addition to these grants, USTDA also supports programs to improve how Mongolia develops and implements standards for products and services.
USTDA's mission is to advance economic development and US commercial interests in developing and middle-income countries. To this end, the agency funds various forms of technical assistance, feasibility studies, investment analysis, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from US exports of goods and services.