Newsletters Category: Development

Click here to view the original Newsletter! President of the European Bank for Reconstruction and Development (EBRD) visited Mongolia this week. Sir Suma Chakrabarti met with the Prime Minister of Mongolia, and with the President. The EBRD has contributed EUR 1.7 billion to Mongolia’s development and promotion of the Mongolian private sector over the past 20 years. EBRD and Mongolia have jointly developed a cooperation plan laying out efforts to promote economic growth and diversification in Mongolia for years to come. EBRD is currently providing assistance with several projects in Mongolia, including projects in

Click here to view the original Newsletter! The biggest news in Mongolia this week is the resolution approved by Parliament Friday, November 21. The purpose of the resolution is to better protect the rights and interests of Mongolian people in connection with mining operation at the Oyu Tolgoi mining project. The resolution was approved unanimously via vote of 46 members of parliament then present. The resolution was drafted in accordance with findings and recommendations of a parliamentary working group tasked with overseeing implementation of the Oyu Tolgoi Investment Agreement and related business

Click here to view the original Newsletter! 2020 begins in Mongolia with a sense of uncertainty as movement in two separate branches of government raise concerns about the progress of the Oyu Tolgoi mine underground phase. In November last year, a judgment of the Capital Administrative Court found to be invalid a series of government decrees which authorized signing of certain agreements between the government of Mongolia and foreign parties in charge of the Oyu Tolgoi project. These agreements were necessary to resolve issues relating to distribution of profits in connection with

The ADB has declared public support for the government’s “New Revival” policy. The Asian Development Bank (ADB) has assisted in providing Mongolia over USD 3.9 billion in financing over the years, supporting development in key sectors across the national economy. Recently, Mongolia was paid a visit from country coordinator for the ADB Pavit Ramachandran, along with an ADB Senior Urban Development Specialist. As part of assistance with the “New Revival” program, the ADB is expected to provide additional fundings for public transportation upgrades, an urban revival program, a rural development program, as well as green development initiatives. The rural development