August 29, 2018

Prime Minister meets with the Japanese Ambassador


Prime Minister U. Khurelsukh received Ambassador Extraordinary and Plenipotentiary from Japan to Mongolia Takaoka Masato and Special Advisor to the Prime Minister of Japan Kentaro Sonoura. Bilateral relations between Mongolia and Japan have strengthened over the years and the frequency of high-level official visits has become more regular. During the meeting, Ambassador Takaoka and Special Advisor Sonoura conveyed that Prime Minister Shinzo Abe is preparing to invite his Mongolian counterpart to pay an official visit to Japan. Both sides noted their similar stance on ensuring security in Northeast Asia and Asia-Pacific matters.       

Keywords: diplomacy, bilateral relations, Prime Minister U.Khurelsukh,   Today /page A2/


Eco-Districts project to be implemented in collaboration with the private sector


Asian Development Bank's (ADB) Board of Governors approved 80 million USD in loan financing for Mongolia to help turn ger settlements in Ulaanbaatar into Eco-Districts. The Eco-Districts project will be implemented by the ADB and the Ulaanbaatar Governor’s Office. Senior Urban Development Specialist Arnaud Heckmann said, “Nearly 850,000 people live in Ulaanbaatar’s ger areas and have poor access to urban services. This project will improve the lives of about 100,000 people, including 10,000 direct beneficiary households.” The project is estimated to cost a total of 570.1 million USD, approximately 300 million USD of which is expected to be financed by the private sector.

Keywords: Asian Development Bank, ger khoroolol   The Century News /page 5/


Coal truck logjam stretches over 85 kilometers at the Chinese border


Bayan Zam Transportation Union reported that the logjam of coal trucks at the road from the Tavan Tolgoi mine to the Gashuunsukhait border crossing has created a long queue. CEO of Gashuunsukhait Road Company Ts. Bold said that the line's length is currently at 85 km. He explained that the Chinese side has slowed down the process of purchases, resulting in the lengthy logjam. Bayan Zam Union has stated that Cabinet Resolution No.185 on the readjustment of coal transportation routes is the main cause of the current logjam.

Keywords: coal export, Gashuunsukhait, Tavan Tolgoi      The Official Gazette /page 5/

online story  

Mortgage loan financing at over 155 billion MNT since the beginning of 2018  


In July, the Bank of Mongolia provided 15.9 billion MNT in mortgage loan financing to commercial banks for 231 mortgage requests, bringing the number of mortgage loan borrowers in 2018 to roughly 2,050. Cabinet allotted 59.6 billion MNT for 860 mortgage loans, while the Bank of Mongolia has financed 1,187 mortgage loans with 96.2 billion MNT. It is expected that a total of 300 billion MNT will be allocated for mortgage loan financing in 2018 for an estimated number of 5,000 borrowers. As of July, the total number of mortgage loan borrowers exceeded 93,000, with outstanding mortgage loans valued at 4.2 trillion MNT.

Keywords: housing market, Bank of Mongolia, Cabinet

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