Just recently, French President Macron visited Mongolia. France cherishes the hope that the country can supply critical raw materials. And Macron was not the first politician from Europe to make an appearance there. After all, Western politicians are trying to secure the supply of critical raw materials for their countries. In addition, dependencies on China are to be curbed as far as possible. By the way, a uranium mine is currently being developed in Mongolia. And soon, 450,000 tons of copper are to be produced each year. Although Mongolia supplies almost all of the raw materials extracted from the ground there to China, Mongolia is also interested in trading with other countries. And there are many raw materials in Mongolia, for example coal, copper, gold, but also rare earths, phosphate, zeolite or graphite.

Green technologies need critical metals, with the coveted lithium for lithium-ion batteries in electromobility and many portable devices at the top of the list, of course. In Mongolia, for example, ION Energy (https://www.commodity-tv.com/.../ion-energy-achieves.../) is working on two promising lithium projects, the flagship Baavhai Uul project and the Urgach Naran project. Recently, ION Energy added another lithium project, in the Northwest Territories, Kananda. Rare earths, such as neodymium, are used in wind turbines and electric motors, as well as in many technical devices in fuel cells or in aviation.

These rare earths are not only found in Mongolia, but also in the USA, for example in the projects of US Critical Metals (https://www.commodity-tv.com/.../mining-newsflash-with.../) in Montana and Idaho. The U.S. also wants to free itself from dependencies as much as possible. The company's projects contain rare earths, lithium, uranium, and cobalt.

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In the Batuta coal mining subsidence area near Ulan Mulun in Inner Mongolia, the fields are black as they gleam under the early summer sun. Stretching out to the horizon, they are covered not with coal but with row after row of solar photovoltaic panels that lean backwards as they face the sun.

The project, which aims to reach a capacity of 500,000 kilowatts, is part of a coal mining regeneration scheme that also involves the ecological restoration of the land for agricultural use and tourism. Until recently, almost all of Inner Mongolia’s electricity was generated by coal-fired power stations, but when Xi Jinping spent two days there this week, his focus was on green energy, low-carbon development and the fight against desertification.

Climate change has seen the number of sandstorms in China increase over the past two decades, with most storms moving from the deserts of Inner Mongolia southwards towards Beijing and other big cities in the east of the country. Xi praised desertification prevention and control efforts that include the large-scale planting of trees to slow down the sandstorms.

He said that the work had produced a historic transformation from “sand forcing humans to retreat” to “trees forcing sand to retreat”, according to People’s Daily.

“This has led to building a virtuous cycle of ecological protection and improvement of people’s livelihoods, bringing about an earth-shaking change in the economic, social and ecological landscape of desertified regions,” the paper quoted him as saying.

Like Tibet and Xinjiang, Inner Mongolia is an autonomous region rather than a province of China, with an enhanced level of self-government but no right to secede. Stretching from the Russian border in the north-east to Xinjiang in the west, Inner Mongolia accounts for almost an eighth of China’s land mass but it is relatively sparsely populated, with about 25 million people.

Four in five are Han, the same ethnic group as more than 90 per cent of the Chinese population, and about a fifth are Mongol. After years of turbulence following the collapse of the Qing Dynasty in 1911, Outer Mongolia broke away from China in 1924 to form the independent state of Mongolia to the north.

Inner Mongolia remained part of China and unlike in Xinjiang and Tibet, there has not been a significant independence movement there since the People’s Republic of China was established in 1949. Mongolian identity is visible throughout the region, however, not least in the celebration of Genghis Khan, whose mausoleum is outside the city of Ordos.

In the centre of Ordos, giant statues of Genghis Khan show him on horseback or driving forward the army that helped him unite the Golden Horde and build a Mongol Empire that stretched from Siberia to the Danube and the Black Sea. Street signs in Ordos are written in Mandarin and in Mongolian, in the script created by Genghis Khan.

Notorious a decade ago for its ghost city of Kangbashi, Ordos has recovered in recent years and the wealth of natural resources nearby has helped to make it one of China’s wealthiest places measured by GDP per capita. The city has some of the best schools in the country and in the Compass Youth Development Centre, a lavishly appointed after-school centre covering 11,000sq m with 110 full-time staff.

The centre offers more than 400 courses in science and technology, art and culture, languages, dance and sport. Children dressed in blue, red and white tracksuits with red kerchiefs operate in groups as they learn everything from assembling a battery-operated appliance to making a small parachute.

Some of the children are ethnic Mongolians but most are Han Chinese and the classes are conducted in Mandarin.

Part of an ultra-high voltage direct current (UHVDC) power transmission project, the largest in the world, is seen on grassland in Ordos. Photograph: Costfoto/NurPhoto via Getty Images

“What we hope is for our minority children and Han Chinese children to learn together. And we are more focused on inheriting the excellent traditional culture of our Chinese nation. In the awe of this excellent traditional culture, let children love their Motherland and the Party together,” said Zhang Rong, director of publicity and outreach at the centre.

“This is a social activity, not study but an exercise activity. This is not compulsory education.”

There are Mongolian-language schools where much of the curriculum is taught in Mongolian, and language and traditional music courses are available throughout Inner Mongolia. But the language is a sensitive issue and changes to the curriculum for Mongolian-language schools sparked protests in 2020.

The changes meant that, although all classes in such schools would be taught through Mongolian for the first two years, an increasing number would be in Mandarin after that. The subjects of Language and Literature, Morality and Law, and History would from now on be taught through Mandarin using standard national textbooks.

Similar reforms had already been implemented in Tibet and Xinjiang but earlier attempts to introduce them in Inner Mongolia had been abandoned. This time, Beijing pushed through the changes, which chimed with a new approach to ethnic minorities that played down the Soviet-style autonomy built into China’s constitutional structure in favour of a depoliticised ethnic policy similar to that in the United States, where minorities have the right to equal treatment but have no territorial autonomy or state-backed cultural support.

During his visit to Inner Mongolia this week, Xi spoke of the importance of ensuring that ethnic minorities benefited from the Chinese Communist Party’s common prosperity policies.

“These border ethnic areas cannot fall behind on the road to common prosperity. We must adhere to the people-centered approach, pay more attention to ensuring and improving people’s livelihood in development, make up for shortcomings in people’s livelihood, enhance people’s well-being, and let people of all ethnic groups truly feel that common prosperity is in action and nearby,” he said.

“We must improve the multi-level social security system, promote the expansion of insurance coverage, increase social assistance, medical assistance, subsistence allowances and support measures for families in difficulty, and develop elderly care services and industries.”

But he identified “fortifying the consciousness of the Chinese national community” as the central theme of the Party’s ethnic policy. The economic, political, cultural, social, ecological and Party constructions in ethnic regions should all closely revolve around and never deviate from this central theme.

“Whether introducing laws and regulations or policy measures, the aim should be to reinforce the commonality of the Chinese nation and enhance the sense of the Chinese national community. We should unswervingly and comprehensively implement the use of nationally compiled textbooks, ensuring that young people from all ethnic groups master and use the national common language and script. We should co-ordinate urban and rural construction planning and the allocation of public service resources to create more perfect social conditions for people of all ethnic groups to live, learn, build, share and enjoy together,” he said.

During a meeting of the Cabinet of Ministers, the Mongolian government engaged in discussions regarding draft agreements on air traffic with the United Kingdom and Latvia. These agreements aim to enhance air connectivity, facilitate travel, and strengthen bilateral relations between the respective countries.

Promoting Connectivity with the United Kingdom

The government of Mongolia emphasized the significance of fostering air traffic agreements with the United Kingdom. These agreements would not only facilitate smoother travel for passengers but also provide opportunities for increased trade, tourism, and cultural exchange between the two nations. The discussions held at the Cabinet meeting reflected the government’s commitment to promoting closer ties with the United Kingdom.

Strengthening Bilateral Relations with Latvia

Another key focus of the Cabinet meeting was the consideration of draft agreements on air traffic between Mongolia and Latvia. The proposed agreements aim to enhance connectivity and foster stronger bilateral relations between the two countries. By improving air travel links, Mongolia and Latvia seek to boost economic cooperation, tourism, and people-to-people exchanges. The discussions held during the meeting highlighted the mutual interest in expanding ties and exploring new avenues for collaboration.

Government Support for Draft Agreements

The Cabinet of Ministers expressed its support for the draft agreements on air traffic between Mongolia and the United Kingdom and Latvia. The government recognizes the importance of efficient air transportation in facilitating economic growth and strengthening diplomatic relations. By endorsing these agreements, Mongolia demonstrates its commitment to expanding its global network and promoting international cooperation.

Enhancing International Connectivity

The proposed air traffic agreements signify Mongolia’s efforts to enhance international connectivity and promote closer relationships with key partner countries. Through increased air travel opportunities, the agreements aim to facilitate the movement of people, goods, and ideas, contributing to economic development and cultural exchange. Such agreements open doors for enhanced cooperation and provide a platform for mutually beneficial partnerships.

BY Mamoon Alvi

Mamoon Alvi serves as an integral part of our global newsroom team. With a strong background in international news from his time at both BOL TV and Dharti TV, he came on board at BNN well-prepared to contribute. Mamoon's unwavering dedication to journalism drives him to relentlessly pursue the truth and deliver crucial stories to audiences around the world.

According to the Ministry of Mining and Heavy Industry, over 9,000 trucks of coal were exported from May 26 until the beginning of June. During the same period, 950 containers of coal crossed the border, as well as more than a thousand driverless smart AGV transportations were made.

The above transports exported 1,134.0 thousand tons of coal in total. Compared to the same period of the last year, coal exports increased by 107 percent. Since the beginning of the year, 24,049.4 thousand tons of coal have been exported, and coal export has increased by 18,194.5 thousand tons or three times from the same period of the previous year.

Copper concentrate: 384 trucks and 224 containers were exported. Since the beginning of the year, a total of 630.2 thousand tons have been exported, which is an increase of 2 percent from the same period of the last year.

Iron ore and concentrate: 27 trucks and 1,830 containers crossed the border. Since the beginning of the year, a total of 2,232.6 thousand tons have been exported, which is an increase of 56 percent from the same period of the last year. In the last week, 130.8 thousand tons of iron ore and concentrates crossed the border.

Total export of mineral products: 52 percent performance on average. For example, 65.9 percent of coal, 45.1 percent of copper concentrate, 26.5 percent of iron, 28.3 percent of gold, 30.6 percent of oil, 83.6 percent of zinc, and 84.1 percent of fluoride.

A total of 1.5 million tons of coal was sold in the first five months of the year. Out of this, "Erdenes Tavantolgoi" JSC traded 1.0 million tons of coal online for USD 126.7 million and increased its income by USD 37.7 million.

On June 8, 2023, in Ulaanbaatar, Mongolia, the Ministry of Finance of Mongolia and the Ministry of Finance of Japan held the first Japan-Mongolia Finance Dialogue (Vice-ministerial level: the Mongolian side was led by Mr. Ganbat, State Secretary of the Ministry of Finance, and the Japanese side was led by Mr. Kanda, Vice Minister of Finance for International Affairs). During the dialogue, both sides had a candid exchange of views on developments in the global economy, Mongolia's economic situation and policy implementation, and technical cooperation between Japan and Mongolia. The outcomes of the dialogue are summarized in the “Joint Press Release Japan-Mongolia Finance Dialogue(PDF:121KB)”.

In the margins of the dialogue, Vice Minister Kanda also had meetings with Mr. Javkhlan, Minister of Finance and Mr. Khurelbaatar, Deputy Prime Minister and Minister of Economy and Development.

Mongolia is looking to e-commerce to help overcome geographical challenges and diversify its economy, which relies heavily on mining – mainly of copper, coal, iron ores and gold.

The mountainous, landlocked nation is one of the world’s most sparsely populated. Mongolia’s remoteness, combined with its rugged terrain can make traditional trade and economic activities challenging.

“The digital way opens up a whole new facet for all aspects of economic diversification and especially trade,” said Tapan Mishra, the UN Resident Coordinator in Mongolia.

“It is extremely important for Mongolia to leverage its trade potential by being eTrade ready,” Mr. Tapan said.

UNCTAD has worked closely with the government on an eTrade Readiness Assessment of the country.

Published on 8 June, it provides insight on the progress that the Eastern Asian nation has made in laying the groundwork for a strong e-commerce ecosystem and offers a road map of action to overcome remaining challenges.

“The assessment makes a series of policy recommendations, which, if effectively implemented, will help Mongolia move away from its commodity-based economy and accelerate its digital transformation,” Shamika N. Sirimanne, director of UNCTAD’s technology and logistics division, said at the assessment’s launch in Ulaanbaatar.

More connected and tech-savvy

Mongolia has made progress in areas that bode well for its e-commerce ambitions. The country has strengthened its ICT infrastructure, especially in urban areas, and increased internet connectivity.

According to data from the International Telecommunication Union, mobile broadband subscriptions in the country rose from 80 to 116 per 100 people between 2017 and 2021. And over 70% of subscribers have access to 4G/LTE networks.

During the same period, the share of Mongolians aged 15 years or older shopping online grew from 7% to 42% – the highest growth among landlocked developing countries and one of the highest in the world, according to World Bank data.

The country has also seen digital literacy increase among its youth. Half of its young men and women now possess general ICT skills, according to the UN Children’s Fund (UNICEF).

The assessment also highlights that domestic digital payments, such as e-banking, mobile banking, electronic wallets and QR code payments, are now widely used for domestic purchases.

Urban-rural divides and logistics challenges

Although Mongolia has made progress in many key areas, challenges remain, especially the urban-rural divides – both physical and digital.

People in rural regions in the country still have limited access to reliable ICT infrastructure and to an internet connection. And access to affordable financial services remains limited for some segments of the population.

Mongolia's vast and sparsely populated landscape also presents logistical challenges for e-commerce.

Many of the country’s roads are unpaved and there is no unified system for addresses. These factors, combined with limited transportation networks and harsh weather conditions, make deliveries difficult and costly.

Limited finance and cross-border payments

While the COVID-19 pandemic accelerated the use of electronic payments for domestic purchases in Mongolia, cross-border digital payment options are few and fees remain high.

Another challenge is limited access to financing for digital and technological startups. They rely mainly on self-funding, personal loans and government support in the form of grants and tax relief.

Other financing options, such as crowdfunding and venture capital, are sparse and not yet regulated.

Although Mongolia has various laws related to e-commerce, the assessment highlights the need to strengthen its legal framework to protect consumers online and address concerns related to online fraud and data privacy.

A key milestone

UNCTAD’s eTrade Readiness Assessment marks a key milestone in Mongolia´s digital journey and lays the foundation for a national e-commerce strategy.

“By offering an analysis of Mongolia’s e-commerce ecosystem and charting a roadmap for its further growth, the eTrade Readiness Assessment is one of the catalytic forces for Mongolia to rapidly develop e-commerce,” the country’s foreign affairs minister, Battsetseg Batmunkh, said at the report’s launch.

Also speaking at the event, Mendbayar Tseveen, the co-founder of Shoppy.mn, one of Mongolia’s biggest online marketplaces, highlighted the power of e-commerce to open new doors for Mongolian businesses.

“E-commerce connects Mongolian and international businesses and empowers domestic retail businesses to harness their full potential,” Mr. Tseveen said.

The assessment calls on government ministries and agencies, e-commerce companies, academia and development partners to join forces in implementing the recommendations. They cut across sectors and require concerted efforts from the public and private sectors.

UNCTAD will support the country in implementing the recommendations.

The organization is committed to mobilizing further support from eTrade for all and development partners to leverage the power of the country’s growing digital economy and build a bright digital future for all Mongolians.

The eTrade Readiness Assessment of Mongolia was developed with the support of the Republic of Korea, the European Bank for Reconstruction and Development and Switzerland.

The Mongolian government has been passing sweeping legislation during its spring 2023 session, including a major constitutional reform package. The legislature is now considering a National Anti-Corruption Strategy, aimed at combatting corruption across all facets of Mongolian public life through 2030.

The government has articulated its efforts to strengthen the previous anti-corruption strategy – dating from 2006 – with a long-overdue update. In February Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai announced 2023-2024 as years to fight corruption by passing resolution No. 49.

In March, Mongolian Minister for Justice and Home Affairs Nyambaatar Khishgee participated in the Second Summit for Democracy’s Indo-Pacific Regional Meeting in Seoul, South Korea. He outlined the Mongolian government’s focus to tackle various causes of corruption through comprehensive reforms and introduced the new anti-corruption strategy publicly for the first time.

The Ministry for Justice and Home Affairs formally submitted the strategy to the State Grand Khural, Mongolia’s legislature, in April.

Amid these efforts, Mongolia’s Corruption Perceptions Index (CPI) score dropped from 35 in 2021 to 33 in 2022, according to Transparency International’s landmark annual report. Scores represent “the perceived level of public sector corruption on a scale of 0-100, where 0 means highly corrupt and 100 means very clean.”

According to an official source, the new anti-corruption strategy is a comprehensive reform that embodies newer elements such as “whistleblowing, removal of corrupt public officials, extradition and repatriation of those under indictment, asset recovery, and transparency.”

In recent years, major corruption scandals have led thousands to pour into Sukhbaatar Square in the Mongolian capital, demanding that the government tackle corruption. Some of these scandals directly involve whistleblowers. Hence, legislation protecting whistleblowers and their rights is not only linked to Mongolia’s democratic governance, but also encourages other people to denounce corruption in public service and their work environment.

According to Nyambaatar, the new anti-corruption strategy establishes 10 national goals with 45 objectives and 224 independent activities, which can enhance cooperation with civil society organizations and the media sector.

Moreover, the strategy includes measures to introduce the transparent appointment of civil servants, ensure greater protections for whistleblowers and journalists, and establish a new governance framework for state-controlled assets and educational initiatives to create a culture of anti-corruption in public life.

In Mongolia’s extractive economy, transparency is very much linked to corruption and thus the government’s anti-corruption efforts. The new proposed national anti-corruption strategy must show progress in its effort to align itself with international standards.

Moreover, the new strategy includes measures to standardize the operations of Mongolia’s state-owned enterprises (SOEs). The goal is to make all SOEs follow consistent rules throughout processes like the appointment and removal of public figures as well as tenders and procurement.

The new anti-corruption strategy also aims to increase collaboration with both domestic and international organizations such as Mongolia’s Independent Authority Against Corruption (IACC), Germany-based Transparency International, and the Brookings Institution, a top U.S. think tank. The collaboration with Brookings aims to embark upon a large research project, with the objective of achieving tangible measures for anti-corruption goals and having Mongolia engage in the Anti-Corruption, Democracy, and Security (ACDS) initiative.

In a 2022 interview with The Diplomat, Dashdaavaa Zandraa, the director general of the IACC, shed light on Mongolia’s increasing collaboration with international anti-corruption bodies, which in principle and practice, should strengthen transparency.

International rankings, like Transparency International’s CPI, affect Mongolia’s governance and how the world views the government’s actions. In May, chairman of the State Great Khural of Mongolia Zandanshatar Gombojav hosted a meeting with Herta Däubler-Gmelin, formerly Germany’s minister of justice, and Peter Eigen, the founder of Transparency International, to discuss the country’s ongoing efforts to combat corruption and the proposed amendment of its constitution (which has since been passed).

According to Montsame News Agency, “During the meeting, Mrs. Däubler-Gmelin and Mr. Aigen … acknowledged the efforts made by the State Great Khural and the Government of Mongolia in combating corruption in the past. They also pledged their readiness to offer any support and assistance from Transparency International’s headquarters in Ulaanbaatar and Berlin.”

Mongolia’s dedication to the “Year of Anti-Corruption” involves its parliament, which has a major role in strengthening the legislative framework to combat corruption at all levels.

Oyun-Erdene, Mongolia’s prime minister, has emphasized the government’s focus on anti-corruption initiatives within the extractive industry, given its significant contribution of 93 percent to the country’s total exports.

The new anti-corruption strategy, if passed by the legislature, can modernize Mongolia’s efforts in tackling major corruption at all levels of society. The hope is that the new strategy tackles corruption at the highest level, both in the government and in the public sector. The collaboration between the Mongolian government, the IACC, and international organizations gives hope for positive changes to come.

GUEST AUTHOR

Bolor Lkhaajav

Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

During its regular session on June 7, 2023, the Cabinet made the following decisions:

To Make Education Loan Fund and Related Information on Its Funding Procedures and Disbursement Publicly Open

A team of independent experts evaluated the Education Loan Fund and concluded that the fund's operations, funding procedures, and disbursement process need to be transparent, fair, accessible, and clear. It will require organizing the announcement of priority areas of specialization and the world's best universities and the selection process in an open and transparent manner, as well as re-engineering the process to reduce human intervention.

Working Group to Promote the Use of Electric Cars to be Formed

On May 6, 2023, Prime Minister of Mongolia L. Oyun-Erdene held an online meeting with Tesla and SpaceX CEO and Twitter CTO Elon Musk and exchanged views on cooperation.

During the online meeting, Elon Musk introduced the "Starlink" satellites created by the aerospace company SpaceX to deliver high-speed Internet to all parts of the world. Then, he mentioned that it is possible to introduce their network in areas with no internet access in Mongolia, and they are ready to install their test stations and conduct tests.

The Prime Minister underscored his support for Elon Musk’s endeavor to introduce the global use of electric cars and green technology and said that he would facilitate via tax and the legal environment if the Tesla branch opens up in Mongolia.

In this regard, the Prime Minister tasked Minister of Road and Transport Development S. Byambatsogt to form a Working Group to promote the use of electric cars.

Special Regimes Imposed on “Tavantolgoi Railway” LLC and “Tavantolgoi” JSC Terminated

In December 2022, the activities of “Tavantolgoi Railway” LLC were taken under the direct control of the government, a six-month special regime was imposed and the Head of the Legal Department of the Cabinet Secretariat N. Myagmar was appointed as the Government’s Special Representative for the company.

The Special Representative was assigned several responsibilities, which included increasing the state's foreign currency reserves, implementing measures concerning "Tavantolgoi Railway" LLC, disclosing information related to state secrets, and transitioning the operations of the company to normal mode.

Chief Cabinet Secretary D. Amarbayasgalan informed that as a result of the measures implemented during the special regime, the operations of "Tavantolgoi Railway" LLC and the "Tavantolgoi-Gashuunsukhait" railway project have been made publicly open. Furthermore, the safety of railway transportation has been guaranteed, ensuring stable operations for the company in the future. He also mentioned that the necessary conditions for normal transportation operations have been established.

For “Tavantolgoi” JSC, according to the Ordinance No. 450 of the Government of Mongolia, dated December 9, 2022, the company’s activities were taken under the direct control of the government, a six-month special regime was imposed and the State Secretary of Ministry of Justice and Home Affairs P. Sainzorig was appointed as the Government’s Special Representative for the company.

The Cabinet decided to terminate the special regimes imposed on those companies.

Procedures to Ensure Cyber Security Approved

Upon the approval of the procedures to ensure cyber security, a legal environment to mitigate cyber risks will be established, and prerequisite requirements and regulations for ensuring cyber security in activities of public and private organizations, preventing, detecting, and taking responses against cybercrimes will be introduced.

Brief News:

· Draft Agreements on Air Service between the Governments of Mongolia and the United Kingdom of Great Britain and Northern Ireland, and the Governments of Mongolia and the Republic of Latvia were discussed and supported at the Cabinet session. The signing right was given to Minister of Road and Transport Development S. Byambatsogt.

· "Amount of charges for foreign vehicles passing through the territory of Mongolia" and "Amount of charges for vehicles transporting goods exceeding the maximum permitted amount by using international and national highways and road facilities" have been set.

· The 12th International Conference for Mongolists will be held in Ulaanbaatar, Mongolia in August 2023. A structure of an organizing committee for the Conference was approved.

Three African and four Asian youth start-ups will take centre stage at this year’s World Export Development Forum (WEDF), taking place from 26-29 June in Ulaanbaatar, Mongolia. WEDF is the annual flagship event of the lead UN agency supporting small businesses, the International Trade Centre.

The selected companies will pitch their businesses to a panel of judges at the Youth Ecopreneur Awards 2023. The contest includes two award categories: Green Business Solutions and Land Restoration.

The awards come with seed funding and capacity building. The prize packages for the finalists are provided by ITC, the G20 Global Land Initiative of the United Nations Convention to Combat Desertification, World Intellectual Property Organization (WIPO), Google's Startups for Sustainable Development programme and the multinational law firm Sidley Austin.

The finalists – from Bangladesh, Egypt, Ghana, India, Indonesia, Madagascar and Mongolia - were selected through a rigorous process by ITC in collaboration with partners, including the G20 Global Land Initiative and advisers from the ITC global network of young entrepreneurs, Ye! Community. Finalists were chosen based on their work promoting sustainability, circularity and the green economy, including land restoration. The finalists went through a two-step process, first a written application followed by a pitch showcasing their efforts to drive change and sustainable practices.

The seven finalists are iPAGE, Bangladesh; Cupmena, Egypt; Sommalife, Ghana; Brown Reed Agri Waste Innovations, India; Liberty Society, Indonesia; Bôndy, Madagascar; and Airee, Mongolia.

In Ulaanbaatar, the pitch contestants will be assessed by a panel of judges comprising the winner of the 2021 Youth Ecopreneur Awards, Vedant Ghandi; Paula Padrino Vilela, G20 Global Land Initiative; Diana Carballo Chanfon, Sidley Austin; Allan Majuru, ZimTrade; and Andrew Ong, WIPO.

The judges will choose the winners based on the value proposition of the businesses, their environmental impact, market potential, team strength, sustainability and scalability of the business model.

The ITC Youth Ecopreneur Awards aims to connect young entrepreneurs to markets and support entrepreneurship, contributing to achieving the United Nations Sustainable Development Goals.

Spotlighting the finalists

Finalists for the Green Business Solutions category:

Chirag M G of Brown Reed Agri Waste Innovations, an Indian waste management company, converts agri-waste into sustainable and scalable innovations while creating jobs for rural women.

Abdulrhman Elhalafawy of Cupmena, an Egyptian company, reduces waste in the coffee industry and develops innovative agri-solutions to help combat climate change.

Tamara Dewi Gondo Soerijo of the Indonesian manufacturing social enterprise, Liberty Society, works with women to produce upcycled goods, gifts and green campaigns for socially conscious corporations and brands.

Oyungerel Munkhbat of the Mongolian air filter manufacturer Airee reduces microplastics pollution through 100% biodegradable wool filters.

Finalists for the Land Restoration category:

Max Fontaine of the Malagasy reforestation company Bôndy develops rural communities through agroforestry and mangrove planting to generate socioeconomic and ecological impact.

Mashrur Hossain of Bangladeshi agri-tech company iPAGE provides crop-specific digital advisory services to smallholder farmers to enhance their productivity.

Mawuse Christina Gyisun of the Ghanaian agri-tech company Sommalife conserves and restores shea trees and creates market access opportunities.

These finalists were selected from a shortlist of 419 companies from 63 countries.

The Green Business Solutions shortlisted companies include: Givo Limited - Nigeria, Brown Reed Agri Waste Innovation - India, Cupmena - Egypt, Qubix Robotics - Malawi, ReciclApp - Mexico, Green Composting - Tanzania, Saathi - India, Liberty Society - Indonesia, Angirus - India and Diapo Inc - Zimbabwe, and from Mongolia, Nomadic PowerBox LLC and Airee Felt.

For the Land Restoration category, the shortlist includes 10 companies from seven countries: Bôndy International - Madagascar, Sommalife - Ghana, Clauseph Enterprises - Botswana, iPAGE Bangladesh - Bangladesh, Orda Wealth - Mongolia, Neoperk Technologies - India, Kimalaya Naturals - India, Viva Organica - Botswana, Ecowillow Ghana - Ghana and Climtech Intelligence - Nigeria.

This is the fourth young entrepreneurs pitch competition at the World Export Development Forum. At each of the previous conferences, the national host was offered the opportunity to field independent candidates in the competitive process.

Diversifying through green, digital trade

The 2023 edition of the World Export Development Forum will take the theme of ‘Diversify with Green Trade’, exploring organic, digital and sustainable solutions to multiple crises. While the conference theme is global, there is a focus on trade opportunities for landlocked developing countries. Mongolia is the world's second largest landlocked country.

The conference will be hosted by the Government of Mongolia, led by the Office of the President, in close partnership with the United Nations Country Team for Mongolia.

About the International Trade Centre - The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.

For more information, visit www.intracen.org.

Symbiotics Investments has arranged a 10 million USD gender-focused bond for Khan Bank via the Vision Microfinance Dual Return Fund.

With the issuance of this gender-focused bond, Khan Bank affirms its commitment to the United Nations Sustainable Development Goals (SDGs), particularly SDG 5: Gender Equality. Khan Bank has launched new loan products specifically designed to support the productivity, competitiveness, and financial access of women entrepreneurs.

The issuance of this gender-focused bond represents a significant milestone in the Mongolian financial industry's commitment to addressing gender disparities and fostering inclusivity, as it is the first bond in Mongolia with the explicit purpose of supporting the SDGs through a gender lens.

The bond focuses on employment generation and financing programs designed to prevent and alleviate unemployment stemming from socioeconomic crises. It will benefit female borrowers and female-owned or female-managed SMEs. Through this financial instrument, Khan Bank aims to mobilize the proceeds toward addressing gender-related challenges. The bond issuance will not only provide a unique investment opportunity but also generate social impact, creating lasting change that benefits communities and economies.

“Vision Microfinance is proud to celebrate its 15 years of Mongolian investment history with this gender-focused bond, in cooperation with Symbiotics Investments and Khan Bank, which shows the innovation made possible by long-term partnerships and our commitment to impact investing in Mongolia since 2008,” said Christoph Eckart, Senior Fund Manager at Impact Asset Management.

“Building on the momentum of the first gender-focused bond issued in 2022, we are very pleased to work with our long-term partner Khan Bank and enable them to work toward closing the gender gap among their clients and, in a wider sense, for the entire female population of Mongolia,” said Eugene Tan, Symbiotics Regional Manager East Asia.

“We are delighted to extend our cooperation with our long-term partner institution, Symbiotics, through this transaction which focuses on promoting sustainable development in the country. This issuance of the gender-focused bond supports our strong dedication to social progress. By focusing on gender-related issues, we aim to create opportunities for a more equitable and prosperous future,” said Erdenedelger Bavlai, First Deputy CEO of Khan Bank.

This gender-focused bond is issued via Symbiotics sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, certified in December 2019 and November 2021 by DNV GL. The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed with the gender-focused bond flag on the Luxembourg Green Exchange.

About Symbiotics Investments

Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management, and capacity-building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than 9.2 billion USD for 570 companies in 95 countries. symbioticsgroup.com

About Impact Asset Management

Impact Asset Management GmbH is a leading independent asset management company in the German-speaking region, specializing in asset allocation, analysis, and management of impact and sustainable investments. The aim of all products is continuous capital growth with a focus on security and risk minimization. In rising markets, the focus is on performance optimization. In falling markets, the focus is on active risk management to protect the consigned assets from heavy losses. The business focus is on institutional clients and high-net-worth individuals. Our goal is to increase our customer base in close collaboration with banks, online businesses, and distributors and to expand into new markets in the coming years. impact-am.eu

About Khan Bank

Khan Bank has been providing all types of banking products and services to more than 82 percent of the population, or 2.8 million customers, through its digital channels and 545 branches nationwide. Khan Bank supports MSMEs, which are the key drivers of the country’s economic growth, by offering business loan products and non-financial services such as customer training and advisory and consulting services through its Business Support Center. In the last decade, Khan Bank has been actively implementing projects in line with sustainable development initiatives, aiming to be greener and offering environmentally-responsible products and services. Click here to read Khan Bank’s Sustainable Development Report 2021.