Parliament approves historic revisions to Mongolia's family law www.gogo.mn

The Parliament of Mongolia has officially approved comprehensive revisions to the Law on Family and the Law on Family Court Proceedings, marking the first fundamental update to the legislation in 27 years. With overwhelming majority support from parliament members, the passage of these sweeping reforms resolves a decade-long legislative deadlock following multiple failed attempts to update the law in 2014, 2018, 2019, and 2023.

Since its original enactment in 1999, the outdated Family Law has struggled to adequately address the complexities of modern domestic relations, frequently leaving vulnerable demographics, particularly women and children, without sufficient legal protection. Recognizing these prolonged difficulties, lawmakers prioritized the current revisions to elevate Mongolia's family legal framework to international standards. The comprehensive updates are scheduled to take full effect by November 2025.

The newly adopted legislation firmly establishes the rights and best interests of the child as the core principle of all family relations. It introduces a wide array of modernized legal protections, including a unified methodology for determining child support, stricter penalties for payment evasion, and clearer regulations regarding divorce, cohabitation property, and marriage contracts. Furthermore, the law establishes formal premarital education, protects national genealogical records, and legally recognizes assisted reproductive technologies, ensuring a robust, contemporary legal system for all Mongolian families.

By E.Oyun-Erdene

55 Countries to Celebrate World Horse Day According to Their Traditions www.montsame.mn

For the first time, Mongolia is preparing to widely celebrate "World Horse Day" on an international scale.

At the plenary meeting of the 79th session of the United Nations General Assembly on June 3, 2025, the resolution on "World Horse Day," initiated by President of Mongolia Khurelsukh Ukhnaa, was discussed and adopted. Consequently, the international decision to observe July 11 of every year as "World Horse Day" serves as a clear expression of global recognition for the cultural heritage of Mongolian nomads and the invaluable contribution of horses to human development.

This year, 55 countries will celebrate World Horse Day in accordance with their own unique customs and traditions. It is of special significance that Mongolia is celebrating this historic international event as its primary hub.

The celebration will feature large-scale international events that bring together national heritage, equestrian sports, equine culture, and the arts in one place.

the World Horse Day events will be held at Khui Doloon Khudag on July 10-13.

ADB, Golomt Bank Sign $64m Loan to Expand Green Finance, MSME Lending in Mongolia www.crowdfundinsider.com

The Asian Development Bank (ADB) and Golomt Bank have signed a $64 million loan agreement to expand sustainable finance and increase lending to micro, small, and medium-sized enterprises (MSMEs), including women-owned businesses, in Mongolia.

The financing package comprises $60 million from ADB’s ordinary capital resources and $4 million in concessional funding from the Canadian Climate and Nature Fund for the Private Sector in Asia.

The project aims to support sustainable growth and financial inclusion while addressing Mongolia’s financing gaps in sectors critical to climate resilience and emissions reduction, including energy, agriculture, forestry, and water.

“This project underscores ADB’s commitment to advancing sustainable growth and financial inclusion in Mongolia,” said Chandra Mohan Arora. “By partnering with Golomt Bank, we aim to make financial services more accessible, improve productivity, increase income, and contribute to economic diversification.”

According to ADB, Mongolia continues to face severe environmental challenges, including frequent shocks caused by extreme weather events.

Although the country has made progress in establishing sustainable finance frameworks, substantial financing gaps remain across priority sectors.

The project will finance investments supporting energy efficiency in industry and housing, eco-tourism, and waste management as Mongolia transitions toward a more environmentally sustainable economy.

By leveraging concessional financing, the initiative is also expected to help Golomt Bank expand operations in underdeveloped adaptation finance segments.

Beyond climate-related investments, the facility will broaden access to finance for underserved populations, strengthen institutional capacity, and support programs for women entrepreneurs, including initiatives designed to protect women and girls in the workplace.

“With ADB and CANPA’s support, Golomt Bank is pleased to introduce a pioneering and impact-driven financing solution alongside our existing green loan products,” said Odonbaatar Amarzaya.

He said the financing would enable the bank to provide more affordable funding to households and businesses, improve operations while reducing environmental impacts, and contribute to “a greener, more resilient future for Mongolia.”

Established in 2024, CANPA is an ADB-managed trust fund backed by a commitment of Can$360 million from the Government of Canada to support private-sector climate and nature-based projects across Asia and the Pacific while promoting the empowerment of women and girls.

Golomt Bank, Mongolia’s second-largest bank, operates 108 branches nationwide and held about 20% of the country’s green finance market at the end of 2025.

By Michael Wong

World Bank Appoints Delmon as Mongolia Country Manager www.miragenews.com

The World Bank Group today announced the appointment of Victoria Delmon as Country Manager for Mongolia, a position that unifies country-level leadership across the World Bank, IFC, and MIGA to better support public and private sector clients.

Based in Ulaanbaatar, Ms. Delmon will oversee the World Bank Group's engagement in Mongolia, supporting the country's efforts to strengthen economic diversification, attract private investment, and create more and better jobs.

"With its natural endowment, Mongolia has strong potential to unlock new private investment and build a more diversified and resilient economy," said Victoria Delmon, World Bank Group Country Manager for Mongolia. "The World Bank Group is committed to working with the government and private sector to mobilize capital, strengthen the investment climate, and support reforms that drive growth, jobs, and long-term development."

Ms. Delmon, a British national, brings over 30 years of experience in infrastructure finance, mergers and acquisitions, project structuring, and policy reform, spanning Africa, Eastern Europe, the Middle East, and Asia Pacific.

She joined the World Bank in 2006 as Senior Counsel in the Legal Vice Presidency in Washington, D.C. and later joined the Water Global Practice. In 2020, she joined IFC as Manager, Upstream and Advisory, Infrastructure, Asia Pacific, based in Singapore. In this role, she led a team focused on origination, market creation, and developing bankable infrastructure projects across the region, including in Mongolia.

Earlier in her career, Ms. Delmon worked at the international law firm Freshfields Bruckhaus Deringer in London, and served as international counsel at the utility company Veolia Environnement. She is co-editor of the book "International Project Finance and PPPs" and has co-authored publications on private participation in infrastructure, incentive-based regulation, and commercial finance.

Ms. Delmon holds an MA in Law from University of Oxford, United Kingdom.

By World Bank

President of the Republic of Korea to Pay State Visit to Mongolia www.montsame.mn

At the invitation of President Khurelsukh Ukhnaa, President of the Republic of Korea Lee Jae Myung will pay a state visit to Mongolia from July 9 to 11, accompanied by First Lady Kim Hea Kyung.

According to the Office of the President of Mongolia, the visit will mark the first state visit by a South Korean president to Mongolia in 15 years, following the previous visit in 2011.

During the visit, President Khurelsukh and President Lee will hold official talks on expanding and strengthening the two countries' Strategic Partnership, deepening economic cooperation, and enhancing collaboration on regional and international arena.

The two sides are also expected to sign a number of intergovernmental and interagency agreements aimed at broadening bilateral relations and cooperation.

President Lee and First Lady Kim will attend the opening ceremony of Mongolia's National Naadam Festival as honored guests.

Mongolia and the Republic of Korea established diplomatic relations on March 26, 1990. The Republic of Korea opened its embassy in Ulaanbaatar later that year, while Mongolia established its embassy in Seoul in 1991.

Bilateral ties have steadily deepened over the past two decades, with the two countries elevating their relationship to a Good Neighborly Friendship and Cooperation Partnership in 2006, a Comprehensive Partnership in 2011, and a Strategic Partnership in 2021.

World Bank Names New Director for China, Mongolia, Korea www.miragenews.com/

-The World Bank has appointed Tatiana Rosito, a Brazilian national, as its new Division Director for China, Mongolia and Korea, effective July 1, 2026, based in Beijing.

Ms. Rosito brings 30 years of experience in international economic affairs, diplomacy, development finance, and business leadership, with a distinguished career spanning government, multilateral institutions, and global corporations.

Before joining the World Bank Group (WBG), she served as Vice Minister at Brazil's Ministry of Finance, where she led international development and finance cooperation, including engagement with multilateral development banks and climate funds. She also served as the G20 Finance Track Deputy during Brazil's G20 Presidency in 2024, BRICS Finance Deputy in 2025, and steered the Circle of Finance Ministers for COP30.

Ms. Rosito also brings deep regional expertise, having lived, worked, studied and traveled in China and Asia for over twelve years, including during her posting to the Embassies of Brazil in Beijing and Singapore. She was a co-founder of the Asia/China Program at the Brazilian Center for International Relations (CEBRI) and served on the Consultative Committee of the Brazil-China Business Council. She holds a degree in Economics with honors from the Federal University of Rio de Janeiro (UFRJ), a Master's in International Development from the Harvard Kennedy School, and a Master's in Business Administration from INSEAD and Tsinghua University.

"I am deeply honored to join the World Bank Group and return to this region," said Ms. Rosito. "The World Bank's partnerships in China, Mongolia, and Korea are critical to advancing the jobs agenda, promoting global knowledge sharing, and addressing global challenges. I look forward to working closely with governments, development partners, and stakeholders across the region to advance shared development priorities."

Over more than four decades, the WBG has supported China's development through financing, knowledge, and capacity building. China has made significant development advances over the past several decades and is reaching a new phase in its relationship with the WBG, reflecting that reality. With financing evolving in line with China's development trajectory, the partnership is increasingly centered on knowledge, innovation, and addressing shared global challenges - including through initiatives such as the establishment of the China-WBG Global Center for Ecological Systems and Transitions (CWGC).

Over the past three decades, the WBG's engagement with Mongolia has supported the country's development objectives and strategic reforms through development financing, analytical work, and advisory services. The current Country Partnership Framework for Mongolia aims to help the country navigate short term challenges while working toward a more sustainable, inclusive, and resilient growth over the longer term, with a focus on job creation and climate resilience.

The WBG's partnership with the Republic of Korea reflects the country's remarkable transformation from an aid recipient to a high-income economy. Today, the WBG Korea Office serves a global center for innovation and technology for sustainable development, turning Korea's development journey into a resource for the world. Through trust funds and targeted programs, the partnership channels Korean expertise, innovation, and resources to client countries, helping drive sustainable prosperity worldwide.

Canada Expands Air Agreement With Mongolia, Enabling First Direct Flights www.travelpulse.ca

Canada and Mongolia have expanded their bilateral air transport agreement, paving the way for the first direct flights between the two countries.

The announcement was made by the Honourable Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons.

Under the expanded agreement, airlines from each country will be permitted to operate up to three weekly passenger-combination flights.

The expanded agreement marks the first time direct air service between Canada and Mongolia will be permitted.

"Mongolia is an emerging market and I'm pleased to see this expanded air transport agreement, which will unlock exciting new opportunities for travellers and businesses in both our countries," said MacKinnon.

The original Canada-Mongolia Air Transport Agreement was signed in 2018. This is the first time it has been expanded.

Canada currently has air transport agreements or arrangements covering more than 125 countries as part of its ongoing efforts to increase international connectivity.

Mongolia, Russia, China Hold Trilateral Consultative Meeting www.montsame.mn

The 7th Trilateral Consultative Meeting between Mongolia, the Russian Federation, and the People’s Republic of China at the Deputy Foreign Minister level was held in Ulaanbaatar on July 2, 2026.

The meeting was co-chaired by Deputy Minister of Foreign Affairs Amartuvshin Gombosuren, Deputy Foreign Minister of the Russian Federation Rudenko Andrey Yurevich, and Assistant Minister of Foreign Affairs of the People's Republic of China Liu Bin.

During the consultation, the parties exchanged views on the current state and future prospects of the traditional friendly relations and trilateral cooperation between Mongolia, Russia, and China. They also shared updates on the preparations for the upcoming trilateral summit of the heads of state and government, as well as the implementation progress of agreements reached at the highest levels.

Furthermore, the sides discussed a wide range of issues, including the implementation of the Program on Establishing the Economic Corridor of Mongolia, Russia, and China, alongside railway, road, transit transport, logistics, and energy infrastructure projects. Conversations also covered regional cooperation, Northeast Asian security, collaboration within the United Nations and other international organizations, the "Ulaanbaatar Dialogue" initiative, and ongoing processes within the Shanghai Cooperation Organization (SCO).

Additionally, during the 7th Consultative Meeting, the parties exchanged information on the progress of the project to construct a natural gas pipeline from Russia to China across the territory of Mongolia, along with other priority projects to be implemented under the Economic Corridor.

Concluding the meeting as constructive and productive, the parties agreed to intensify cooperation to maximize the benefits of their trilateral ties, advance the implementation of projects and programs within the Economic Corridor, and contribute to regional peace and sustainable development, reports the Ministry of Foreign Affairs.

Mongolian state budget recorded almost USD280 million deficit in 2025 www.asianews.network

The consolidated budget posted a balanced deficit equivalent to 1.1% of Mongolia's GDP.

On June 30, the Budget Expenditure Oversight Subcommittee of the Parliament met to hold the second reading of the draft parliamentary resolution approving Mongolia’s 2025 consolidated budget performance and the Government’s 2025 consolidated financial statements.

The report was presented by Minister of Finance Z.Mendsaikhan.

According to the report, the 2025 consolidated budget recorded balanced revenue and grants totaling MNT 30.3 trillion, equivalent to 33.7% of gross domestic product (GDP). Total expenditure and net lending reached MNT 31.3 trillion, or 34.8% of GDP.

As a result, the consolidated budget posted a balanced deficit of MNT 1.03 trillion, equivalent to 1.1% of GDP.

For the state budget alone, balanced revenue and grants totaled MNT 19.0 trillion, achieving 95.9% of the planned target, while total expenditure and net lending amounted to MNT 20.4 trillion, representing 90.5% of the approved budget.

The report also noted that MNT 2.14 trillion, or 73%, of planned domestic investment was allocated to 613 projects and programs during 2025. In addition, MNT 1.87 trillion, or 96%, was invested in 116 projects financed through foreign loans and grants.

Overall, MNT 4.01 trillion was invested in 729 development projects and programs.

As part of these investments, contracts were signed with approximately 1,800 business entities, around 110,000 jobs were sustained, and 490 projects and facilities were completed and commissioned nationwide.

E.Oyun-Erdene

Japan, China Vie for Mongolia's Rare Earth Resources www.chosun.com

Japan secures mining rights and infrastructure deals as China warns against third-party influence in resource-rich Mongolia

The competition between China and Japan over rare earth resources is intensifying. The latest diplomatic battleground is Mongolia. Last month, Mongolian Foreign Minister Batmunkh Battsetseg held a closed-door meeting with Japanese Foreign Minister Toshimitsu Motegi and stated, “As a special strategic partner, we hope to further concretize cooperation with Japan.” Japan responded by expressing its willingness to actively collaborate on the expansion of Genghis Khan International Airport. In response, Chinese Foreign Minister Wang Yi rushed to Ulaanbaatar to meet with Mongolia’s president, prime minister, and foreign minister in succession.

China views the “concretization of cooperation” mentioned by the Mongolian foreign minister after his talks with Japan as a reference to rare earth supply. Mongolia is rich in rare earth resources. The U.S. Geological Survey (USGS) estimates Mongolia’s rare earth reserves at 3,100 tons, the world’s second-largest after China’s 4,400 tons.

Since the 2010 Senkaku Islands territorial dispute with Japan, China has restricted exports of heavy rare earths like dysprosium and terbium to Japan. Japan diversified its supply chain to countries like Vietnam, reducing its dependence on Chinese imports from 90% in 2010 to 63% over 15 years. During this process, Japan focused on Mongolia, which has abundant potential reserves but insufficient exploration and development.

In 2021, Mongolia opened Genghis Khan International Airport. Japan provided a low-interest long-term loan of 410 million dollars for its construction, and Japanese companies like Mitsubishi supplied the necessary technology. In July last year, Emperor Naruhito made the first state visit to Mongolia by a Japanese monarch.

In return, Japan secured the right to develop the Khalzan Buregtei mine in northwestern Mongolia. The mine has confirmed rare earth reserves of 150 tons, rich in heavy rare earths like dysprosium and terbium. Dysprosium is essential for enhancing the performance of permanent magnets.

Immediately after the Japan-Mongolia talks, China warned Mongolia, stating, “A third country should not use its territory to harm the sovereignty and security of another.” Citing a 1994 treaty, Beijing threatened that Mongolia should not undermine its exclusive influence by supplying rare earths to Japan. Mongolia’s logistics are vulnerable if China and Russia control its railway network.