Working group formed to issue municipal bonds by UlaanbaatarEconomy
Ulaanbaatar /MONTSAME/. On February 9, 2021, chairs of the Citizens’ Representatives’ Khurals convened and approved to establish a working group responsible for issuing municipal bonds by the capital city.
Due to insufficient budget funds to finance projects and programs designed for creating safe and healthy environment for 1.4 million population of Ulaanbaatar city, the municipal bond will be issued to raise fund to tackle the financial problems. The working group will be comprised of more than 10 members representing Cabinet Secretariat, Finance Ministry, Central Bank, Financial Regulatory Commission, Ulaanbaatar’s Governor’s Office and Citizens’ Representative Khurals of the capital city.
The working group has been assigned to carry out study on the issuance of municipal bond and present the study results within the second quarter of 2021.