M. Sonompil, the minister of Energy, is going to visit Austria at the invitation of its Federal Minister of Economy, Family, and Youth, Reinhold Mitterlehner.

The counterparts organized a meeting yesterday to have a word about the economy and the energy sector of Mongolia, majorly on the issue of renewable energy. In the course of the meeting Minister Mitterlehner, talked about the ongoing situations of Austrian economy and they also stressed on the willingness of the country to develop two country's friendship by encouraging collaborated cooperation and by the initiation of other economy-oriented projects.

Minister M. Sonompil, who is also the Chairman of the Mongolia-Austria Intergovernmental Commission, communicated Mongolia's interest for the Austrian government to think again on its verdict to grant Mongolia 40 million EUR in soft loan.

This was discussed in the 4th intergovernmental commission meeting held in year 2010. He also mentioned that at that time, the Memorandum of Understanding (MoU), was marked for making an investment in the projects and programs in health, energy, and infrastructure with that loan amount.

He also proposed about the launch of a project to develop a power plant using the hi-tech and advance Austrian technology.

The Austrian Minister honored the proposal and stressed that both the sides should grant proper amount of attention to the expenditure of the soft loan for gaining maximum benefits from same.