Улаанбаатар
Mongolia's Sovereign Wealth Fund Renamed “Chinggis Fund”
Politics
Ulaanbaatar, December 23, 2024 /MONTSAME/. During its irregular session on December 20, 2024, the Government of Mongolia made a decision to adopt a Resolution on Taking Several Measures on Mongolia's Sovereign Wealth Fund.
Through the Resolution, the Government instructed Minister of Mongolia and Chairman of the Cabinet Secretariat of Government Uchral Nyam-Osor and Minister of Finance Javkhlan Bold to distribute the generated revenue of the 2024 Sovereign Wealth Fund to the Savings Fund, Development Fund, and Future Heritage Fund, and to work to achieve the predetermined targets for 2025. Moreover, in accordance with the Government Resolution, the Sovereign Wealth Fund will be renamed “Chinggis Fund,” in honor of Great Emperor Chinggis Khaan.
Deputy Prime Minister of Mongolia and Minister of Economy and Development Gantumur Luvsannyam was tasked with researching ways to finance projects and programs to reduce air pollution through the Development Fund and submitting it to the Government of Mongolia.
