USD26.9 million loan agreement signed
The Government of Mongolia, in partnership with international organizations, is implementing projects and taking urgent measures to prevent the novel coronavirus spread, diagnose and treat the infection.
Government to bear expenses of Tavan Tolgoi Power Plant project
Ulaanbaatar /MONTSAME/. At its regular weekly meeting held today, the cabinet decided to build 450 MW Tavan Tolgoi Power Plant (TTPP) in Umnugobi aimag between 2020 and 2024, based on a ready-made feasibility study of 2013, analyses on its water and coal supply and infrastructure facilities, and environment assessments, without changing its current location in the Tavan Tolgoi coal mining area.
212 tons of food products transported by railway
On April 6, 6 trains, 287 containers and 31 wagons crossed the state border, transporting a total of 212 tons of food products.
Southeast Asian members of WB and IMF convene teleconference
On April 3, World Bank and the International Monetary Fund convened a teleconference of their Southeast Asian members to support information exchange on the countries’ measures against COVID-19.
BoM purchases 5.3 tons of precious metal
As of first three months of 2020, the Bank of Mongolia (BoM) purchased 5.3 tons of precious metal in total.
Mongolia's 2020 growth outlook dims due to COVID-19
Mongolia’s economic growth is expected to fall sharply in 2020 because of the novel coronavirus (COVID-19) pandemic but rebound in 2021 as the outbreak subsides, says a new report by the Asian Development Bank (ADB) released today.
Repayment of soft mortgage loans postponed temporarily
The Bank of Mongolia, the Ministry of Finance, the Mongolian Mortgage Corporation HFC LLC and other commercial banks have made the following decision to support people who have received soft mortgage loans from the government.
Cargo from Europe being allowed entry under close inspection
Appropriate measures are being taken for drivers and vehicles transporting cargo and all types of products into the territory of Mongolia from Europe and Russia through Altanbulag border checkpoint.
MNT 150 billion soft loan to be granted for support of spring sowing
In connection with start of spring cultivation, the Ministry of Food, Agriculture and Light Industry resolved to grant MNT 150 billion soft loan with 3-5 percent interest rate through the Development Bank of Mongolia to encourage its crop farmers.
Earning expectation lowered by two-fold compared with last year
Mongolian National Chamber of Commerce and Industry (MNCCI) conducted its annual ‘Business confidence index survey’ on March 3-27, involving a total of over 1800 businesses in Ulaanbaatar and provinces.
Ministry of Finance to cooperate with UNDP
Today, United Nations Development Programme (UNDP) signed a memorandum of understanding (MOU) with the Ministry of Finance of Mongolia to establish a partnership and collaboration on implementation of the medium-term Public Finance Management Reform in Mongolia, including budgeting for SDGs or program-based budgeting process, to accelerate the Sustainable Development Agenda 2030 in Mongolia.
Mining products exported through four border crossings
Heavy trucks loading coal are crossing the border of Mongolia again, after being suspended for almost two months due to the heightened state of readiness.
The World Bank approves $26.9 million for Mongolia’s COVID-19 emergency response
Ulaanbaatar /MONTSAME/. On April 2, The World Bank’s Board of Executive Directors approved $26.9 million for the Mongolia COVID-19 Emergency Response and Health System Preparedness Project to meet emergency needs in the face of the pandemic and to better prepare for future health crises.
Mongolia exported 306.6 thousand tons of copper concentrate
According to the information provided by the Customs General Administration, Mongolia exported 306.6 thousand tons of copper concentrate in the first quarter of this year.
MNCCI survey results on impacts of COVID-19 virus on economy
O.Amartuvshin, the President of the Mongolian National Chamber of Commerce and Industry, and B.Dulguun, an economist, introduced the impact of the COVID-19 on the economy and the urgent measures to be taken.
Finance Minister shed light on economic relief measures
Ulaanbaatar /MONTSAME/. On April 1, Minister of Finance Ch.Khurelbaatar hosted a press conference to make a detailed clarification on the government economic measures to mitigate the economic downturn and protect those affected by the COVID-19 pandemic.
First handbook on sustainable production for Mongolian wool and cashmere industry published
In the scope of STeP EcoLab Mongolia project funded by the European Union, a handbook of environmentally friendly, sustainable production for the Mongolian wool and cashmere industry has been published and is ready to be delivered to the hands of managements, engineers and technical workers of the sector.
Economic stimulus package to limit COVID-19 impact to be submitted to Parliament
Ulaanbaatar /MONTSAME/. On April 1, at its regular meeting, the Cabinet held a discussion on a draft parliamentary resolution and accompanying bills on a package of measures to protect the health and income of people, keep employment stable and stimulate the economy. The package contains 14 measures in four areas, as introduced by Prime Minister U.Khurelsukh on last Friday.
Speaker meets World Bank Country Manager Andrei Mikhnev
On March 31, Speaker of the Parliament G.Zandanshatar met with Mr. Andrei Mikhnev, the World Bank Country Manager for Mongolia, exchanging views on overcoming coronavirus crisis and policies and actions for economic risk protection.
Minister D.Tsogtbaatar: Introduction of new political culture required for establishment of wealth fund