Ulaanbaatar/MONTSAME/. On June 3, the Executive Board of the International Monetary Fund (IMF) approved
Mongolia’s request for emergency financial assistance under the Rapid Financing Instrument (RFI) equivalent to
SDR 72.3 million (about US$99 million, or 100 percent of quota) to meet urgent budgetary and balance of payment needs stemming from the outbreak of COVID-19 and to support the most affected sectors and vulnerable groups.

Following the Executive Board’s discussion of Mongolia, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Chair, made the following statement: “Mongolia has successfully avoided a domestic outbreak of COVID-19 thus far, helped by the early introduction of social distancing and tight health protocols for cross-border flows. Nonetheless, the pandemic has sharply reduced economic activity due to both the economic cost of the containment measures and the fall in external demand. There is now an urgent balance of pay ments need and a fiscal financing gap.

“The authorities have already taken a number of measures to limit the economic contraction and help the most vulnerable. Recent revisions to the budget allow for higher health and social spending as well as tax relief to affected households and businesses. In addition, the Bank of Mongolia has eased monetary and financial policies to help prevent a disorderly contraction in bank lending to the private sector.

“Emergency financing under the IMF’s RFI will provide much-needed support to respond to the urgent balance of payments and budgetary needs.

Additional assistance from development partners will be required to support the authorities’ efforts and close the financing gap. The authorities’ commitment to high standards of transparency and governance in the management of financial assistance is welcome.

“As the immediate threat to the economy subsides, it will be critical to resume key reforms begun during the recent Extended Fund Facility arrangement. These include a return to fiscal consolidation to reduce still-high public debt, a more flexible exchange rate to build up foreign exchange reserves, remedying AML-CFT deficiencies, and stronger supervisory enforcement to ensure that all banks have sufficient capital.”

Source: IMF One new COVID-19 case recorded in Mongolia, recoveries reach 65 Ulaanbaatar/MONTSAME/. At today’s daily press briefing of the Ministry of Health, D.Nyamkhuu, Director of the National Center of Communicable Diseases (NCCD), announced one new confirmed COVID-19 case in the country, bringing the total number into 186. The novel coronavirus was detected in a person, who is staying under mandatory isolation after arriving on a charter flight from Moscow on May 26, as a result of repeated testing.

Moreover, 21 recovered patients, including nine students, are being transferred into next stage supervision today.
The recovered patients were returnees who arrived on charter flights on May 13-14 and received COVID-19 treatment for 21-22 days. By doing so, the total number of recoveries stands at 65. To date, 157 patients are undergoing treatment at NCCD.

Ulaanbaatar /MONTSAME/. On June 2-3, the UNDP Mongolia hosted an online consultation around the system change approach for the local development policy formulation and implementation process, for the first time, in cooperation with Ulaanbaatar city, Arkhangai, Zavkhan, and Orkhon aimags’ Governor’s offices, within frame of the “Supporting implementation of the 2030 Agenda Project”.

This consultation continued through getting connected via online with five individual stations under the two thematic
areas of “Development of the sustainable tourism” and “Ways of addressing an issue of soil pollution” with aim of
resolving the local level development challenges, identifying societal mission, and having the stakeholders to come up
with action plans. 

Under the guidance of Mr. Patrick Duong, UNDP Asia Pacific Regional advisor and Mr. Kal Joffres, UNDP Advisor on Strategic innovation, the local facilitators worked accordingly at each stations. This consultation is considered significant in terms of addressing issues of the development of local tourism and reduction of soil pollution in comprehensive ways, in wide cooperation with stakeholders. Over about 100 participants from the Cabinet Secretariat of Mongolia, Ministry of Finance, Ministry of Environment and Tourism, Ministry of Construction and Urban Development, National Development Agency, Governors’ offices and officials from aimags, UB capital city, and other stakeholders from the government, non-government organizations, private sector, research institutes, civil society organizations, and international agencies were at the event.

As acknowledged in the opening video remarks, the First Deputy Chairman of the Cabinet Secretariat Mr. B.Ganbat
said “Mongolia was one of the first countries that have incorporated the Sustainable Development Goals in its national long-term development policies.

Recently, the Parliament of Mongolia adopted the ‘Sustainable Development Vision 2030’ by its Resolution No.19 in 2016 and also ‘Vision 2050’ long term development policy paper by its resolution No.52 in 2020. Mongolia is making effort to successfully implement the SDGs at both national and sub-national levels.

UNDP Resident Representative Ms. Elaine Conkievich emphasized not to forget ‘leaving no-one behind’ principle in our great effort towards sustainable development, in her opening remarks. UNDP expressed its ever ready sound commitment to support Mongolia in its implementation of the Sustainable development goals, which were agreed to
be implemented globally, at both national and local levels.

The UNDP is supporting the implementation of the 2030 Agenda for Sustainable Development in Mongolia and
has managed to integrate the prospective development objectives 2030 of the Capital City, and Prospective green
sustainable development objectives 2025 of Orkhon aimag and Erdenet city, and Mid-term development policies
of districts in line with the Sustainable Development Goals, in cooperation with UNDP and has got them endorsed,
which enabled them to march in same phase with the global development trajectory.

UNDP’s project on localization of SDGs has been implemented in Songinokhairkhan and Nalaikh districts of Ulaanbaatar city and in Orkhon aimag and furthermore, the UNDP will support and expand the joint collaboration on local development in Zavkhan and Arkhangai aimags and their implementation of Sustainable development objectives.

Please read the Opening Remarks by Elaine Conkievich, UNDP Resident Representative in Mongolia at the workshop here. Please read the Closing Remarks by Nashida Sattar, UNDP Deputy Resident Representative in Mongolia here. 


Ulaanbaatar /MONTSAME/ With financing of the European Union, “Industry of the Future” blended training center and “Textile – Knitwear Finishing Incubator Center” opened yesterday, on June 3. The centers are established within “Support to Employment Creation in Mongolia (SECiM 2) Project” jointly running by the United Nations Industrial Development Organization (UNIDO) and the Ministry of Food, Agriculture and Light Industry of Mongolia (MOFALI).

With the aims of empowering human resources of light industry sector, introducing international practices and increasing value of agricultural products, the training centers are relying on Armono, Research, Testing, Production and Business Corporation of Light Industry and Research and Development Institute of Light Industry.

At the opening ceremony of the centers, Minister of Food, Agriculture and Light Industry Ch.Ulaan emphasized the significance of state policy and training of skilled personnel for development of   agriculture and light industry, which are
pillar sectors of economy of Mongolia, and raise value of labor of herders and manufacturers.

Minister Ch.Ulaan continued, “Even though the food, agriculture and light industry sector, which makes up 55 percent of total employees of Mongolia and covers over 70 percent of the territory, especially leather and cashmere sector have abundant potential, we have been unable to fully use it. Raising value of hard labor of herders is one of the pressing issues of the sector. Mongolia puts 20 million livestock into economic circulation a year. It means 20 million pieces of skin and leather, 20 thousand tons of wool and around 10 thousand tons of cashmere come from it and we have the potential for processing these precious raw materials, producing final products and supplying to the market.

Therefore, establishing Scientific Research and Training Center of Light Industry at the ministry has significant importance to train its personnel and increase manufacturing of science and innovation-based products.”

Ambassador of the European Union to Mongolia Traian Laurentiu said that in March 2018, together with UNIDO we launched the EU funded SECiM Project. It has achieved substantial results such as transferring international technology and knowledge complementing national expertise, improving quality of raw materials and products. I would like to emphasize the opening of the Industry of Future blended training center as one of the examples of institutionalizing e-learning programs, which have been developed and introduced by UNIDO for building capacity of the sector. Just last week, we signed with the Minister of Finance, the Financing Agreement for the Direct Budget Support Programme.

The EU granted Mongolia over 50 million euros to support the employment. 43 million euros will be direct transfer to state
budget and 7.8 million euros will be for a technical assistance project. The Secim 2 UNIDO and FAO projects will continue its good lessons learnt in this four year.

Technical Assistance project to be delivered together by the United Nations agencies. The objective of this technical assistance is to continue our support to the Mongolian SMEs and businesses in creating more sustainable jobs by focusing on youth employment and TVET capacity building for youth.

Ulaanbaatar /MONTSAME/ The Asian Development Bank (ADB) has raised 21 billion Mongolian togrog (MNT), about $7.5 million, in a groundbreaking issue of the first offshore MNTlinked nomad bonds. The issue sets a new benchmark in the international bond market for frontier currencies.

The bond carries a 10.1% semi-annual coupon with an amortizing 5-year maturity. Denominated in MNT but settled in US dollars, the bond issue was underwritten by ING Bank and sold to a European asset manager. The proceeds are deployed to fund ADB’s Gender Inclusive Dairy Value Chain Project for Milko LLC in Mongolia.

This is a milestone transaction for ADB’s local currency operations,” said ADB Treasurer Pierre Van Peteghem.  “The emerging and frontier markets have come under pressure during the pandemic, therefore the ability to raise competitively priced term funding in Mongolian togrog at this time is a major achievement with tangible benefits in terms of currency risk mitigation for ADB’s borrower.”

Currency-linked bonds are important in development terms because they help plot a yield curve where government issuance is often sparse. The Mongolian domestic government bonds have maturities of up to 3 years only, and the government has not completed any new issue of MNT debt securities since September 2017, therefore ADB’s nomad
bond serves as a relevant benchmark.

ADB is a regular borrower in the mainstream international bond markets but has also led issuances in developing
Asian countries as part of its efforts to promote local currency bond markets as an alternative to bank lending. ADB has
previously issued currency-linked bonds in Armenian dram, Georgian lari, Indian rupee, Indonesian rupiah, and Philippine peso.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Ulaanbaatar /MONTSAME/ Business runners of Tomsk Oblast of the Russian Federation held an online meeting with their Mongolian partners.

Representatives of companies including “Sibirskaya kletchatka” food manufacturing company, “Novaya khimiya” curriculum developer, “Biolit” and “Ferment” non-pharmaceutical manufacturers and “Sovremenniye Istochniki
sveta”, LED light and various heat generator producer attended the meeting, which was co-chaired by E.Oyuntegsh,
Executive Director of Business Cooperation Council with the Russian Federation and A.N.Belyayev, Director of “FRB”
Export Promotion Center.

The Business Cooperation Council with the Russian Federation has been organizing meetings of bilateral businesses permanently.

B.Batchimeg Infection control activities of border checkpoint checked Selenge/MONTSAME/. A team headed by D.Nyamkhuu, Director of the National Center of Communicable Diseases (NCCD), worked in Selenge aimag. The team was comprised of WHO Resident Representative Sergey Diorditsa, WHO specialists A.Ariuntuya and E.Erdenechimeg and senior officials and specialists of National Emergency Management Agency, Specialized Inspection Agency, National Police Agency and General Intelligence Agency.

The team saw infection control activities and provided advice at the Altanbulag international auto road port in
Selenge aimag.

Moreover, the staff of the aimag’s emergency management, customs, border specialized inspection, police
departments and Military Unit No.101, who are working on the border checkpoint, were provided with information
on the situation of COVID-19 and recommendations on how to put on and remove personal protective equipment
properly and environmental disinfection.

Bulgan /MONTSAME/. There lies a certain unique historic artifact from the 6th to 8th century in Mogod soum of Bulgan aimag. At a distance of about 35 km northwest of Mogod soum, anancient offering site is found: an engraved stone depicting 3 humanoid figures, a stone slab with traditional trellis and horn patterns, and a stone with ancient turkic inscriptions. This particular set of artifacts is sometimes referred to as ‘the Memorial of the Altan Tamgan Darkhan (Craftsman with the Golden Seal)’ in some books and works.

The artifacts were first discovered by Russian scholar N.M.Yadrintsev and its research kicked off in 1891. In later years, various foreign and domestic researchers such as V.V.Radlov, Kh.N.Orkhun, Ye.S.Malov, N.Ser-Odjav, L.Bold, V.Ye.Volkov, and Ts.Battulga continued to conduct research.

Turkic inscriptions are found on the engraved stone depicting 3 figures at its upper left corner of its front side as well as its back side and a stone slab that was found lying next to it.

“Scholars deciphered the inscription as ‘Tekesh Kuli-Tudun, the younger sibling of the Altan Tamgan Darkhan raised this stone in memory of the Altan Tamgan Darkhan and his two sons Torgul and Yelek,’” wrote historian E.Jigmeddorj.

In 1984, Former Director of the Museum of Bulgan Aimag P.Dashzeveg noted in a brief introduction about the historic artifact, “As the individual held the ‘Darkhan’ title, he carried a golden arrowhead as identification. Thus, he was proclaimed as the ‘Altan Tamgan Darkhan’.”

Ulaanbaatar/MONTSAME/. A catalog ‘National treasures of Mongolia’ has been compiled by collecting photographs of unique and wonderful treasures being kept at the Treasury Fund of Mongolia, museums, libraries, some monasteries, as well as by individuals.

Within its full powers and functions specified in the legislation, the Bank of Mongolia carries out numerous activities in the field of research, enrichment, preservation, and promotion of cultural values of Mongolians. In this context, the central bank, in collaboration with professional research organizations, is presenting the catalog to the public. As of 2015, there were 770 exhibits, which were certified as unique artifacts, in Mongolia and the catalog includes photographs of archeological finds, rare finds related to different periods of history, as well as beautiful Buddhist artworks.

Moreover, It includes photographs of 307 rare valuable artifacts related to ethnic traditions and belonged to historical figures, with captions and brief descriptions.

It is the sixth edition published by the Treasury Fund of Mongolia and is featured with its being first-time compilation of photographs of Mongolian cultural and historically unique and rare artworks regardless of their form of ownership.

Ulaanbaatar /MONTSAME/ Temujin children’s theater of Bayankhongor aimag opened its new ger art gallery under a project funded by the Swiss Agency for Development and Cooperation.

The theater’s staff have organized an international children’s painting contest annually over the last three years to have the local historical and natural monuments portrayed in paintings.

 They will continue to hold such competitions to let children develop their painting skills and beautifully paint the