October 18, 2016
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U. Khurelsukh: There will be second “ASEM” in Mongolia 

Summary: Yesterday, the Deputy Prime Minister of Mongolia U. Khurelsukh received the representative for the UN Population Fund (UNFPA) Mongolia Naomi Kitahara. The UNFPA approved the new programs that will be implemented in Mongolia from 2017 to 2021. Within the program, a project worth 15.1 million USD will be implemented to focus on youth development, gender equality and sexual and reproductive health. Naomi Kitahara stated that Mongolia was one of the 9 countries to successfully lower the maternal mortality rate. Unfortunately, as of first half of 2016, it is likely that maternal mortality rate will increase. Naomi Kitahara promised to buy necessary hospital equipment considering the economic situation of the country. In 2018, the Government of Mongolia and the United Nations Office for Disaster Risk Reduction are planning to co-organize the Asian Ministerial Conference on Disaster Risk Reduction in Ulaanbaatar, Mongolia. At the end of the meeting, the Deputy Prime Minister U. Khurelshukh asked for assistance and support in organizing the event and expressed his confidence by stating that, “There will be second ASEM in Mongolia.”

Keywords: Deputy Prime Minister, United Nations   Today /page A2/

Voting for local elections will end at 10pm

Summary: The local election for the districts and soums is set to take place tomorrow in accordance with the Parliaments’ resolution. Throughout the country, the voting process will begin at 7 am and end at 10 pm. 15,212 candidates, including 14,489 from political parties and/or coalitions and 723 who are independent, are competing in the local election and 7,282 representatives will be elected. The General Election Committee of Mongolia encourages citizens to vote in the local election tomorrow. 

Keywords: local election   The Century News /page 1/


Ipotek loan program is halted again 

Summary: The Bank of Mongolia explained why the Ipotek loan program is halted. The Parliament approved the 40th Resolution on September 7th, which nullified the Law on Future Pension Funds and related procedures. Therefore, the right to claim ownership of Ipotek loans and financing of the mortgage program has been transferred to the Bank of Mongolia. The Bank of Mongolia has started the process to update the legal documents and stated that they are in the process of identifying ways to finance the Ipotek loan program and that it is unclear when the program would continue. They highlighted that it is possible to release securities worth 120 billion MNT backed by mortgage loans. It was revealed that some commercial banks have misused the Ipotek loan fund, and this became one of the reasons for the hindrance in financing. The latest statistics reveal that around 86.2 thousand loans worth 3.9 trillion MNT have been issued, which equals 30% of all loans in the banking system.   

Keywords: Ipotek loan, BoM    The National Post /page 1/

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70 thousands students to receive loans through commercial banks

Summary: The Educational Loan Fund’s operation officially commences today. With the commencing of the fund, students will be able to pay their tuition through loans, which will reduce the financial costs of households while becoming a key factor in improving the competitiveness and quality of the universities. If three or more family members studies in a university simultaneously, a one time state grant covering the entire tuition fee of one child will be given to the family.  It is planned that 70 thousand students will receive loans through the fund. During the opening ceremony, the Minister of Education, Culture, Science and Sports J. Batsuuri stated that, “University and college students will be able to study without worrying about tuition.” The loan is available to every student attending a university or college, and they will pay back their loan after they have been employed.

Keywords: student loan

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