Ulaanbaatar, August 25, 2025 /MONTSAME/. The Prime Minister of Mongolia, Zandanshatar Gombojav, issued a decree to establish a Working Group (WG) to recover state funds held in financially distressed and dissolved banks to eliminate state losses.

Head of the Policy Coordination on State Property Agency, B. Tsengel, is leading the Working Group, which comprises representatives from the General Executive Agency of Court Decision (GEACD), Bank of Mongolia, Ministry of Finance, Ministry of Education, Independent Authority Against Corruption (IAAC), General Department of Health Insurance (GDHI), General Department of Social Insurance (GDSI), General Agency for Labor and Welfare Services (GALWS), and Development Bank of Mongolia (DBM).

Premier, together with the WG, visited the site of the Gantig Villa project located in the Khan-Uul district to inspect the condition of certain assets proposed by the bank’s receiver for debt settlement. Prime Minister G. Zandanshatar, accompanied by the working group, visited the site of the 'Gantig Villa' project located in Khan-Uul District of the capital to review the status of certain assets proposed by the bank’s receiver as part of debt repayment. Although a nine-block residential complex for 180 households was transferred as debt repayment worth MNT 86.6 billion in 2022, it remains stalled.

The WG plans to take urgent measures in several directions, aiming to immediately bring the asset into economic circulation and compensate for state losses. Specifically, the accuracy of the asset valuation will be reviewed, and if found to be overvalued, it will be referred to legal institutions for accountability. In addition to claiming the price difference arising from the debt repayment, an open auction will be organized, and the proceeds will be deposited into the relevant funds and accounts in accordance with the established procedures to ensure the state suffers no losses.

Furthermore, a 648-square-meter two-story property in Khan-Uul District, with 90 percent completion, will be registered as state revenue. The financing required to complete the construction work will be calculated, and the property is planned to be put into use as a kindergarten.

The WG is obligated to compile a list of assets proposed for debt repayment along with the relevant information, organize the sale of recovered assets, and prepare proposals to prioritize the use of immovable properties obtained through debt repayment for the needs of the education and healthcare sectors. The WG will also develop proposals for completing and commissioning unfinished buildings using state budget funds and through public-private partnerships.