Facebook is planning to build its own town www.weforum.org

Billions of people spend a lot of time living their lives on Facebook's social network. Now Facebook wants to try its hand at creating a community in the real world.

Trade Development Bank cooperate on border trade loan with China Construction Bank www.tdbm.mn

Trade and Development Bank of Mongolia and China Construction Bank have signed “Border Trade Loan Agreement”.

China Construction Bank (CCB) is the largest investment bank in China's construction sector, operating since 1954. CCB has been named the 2nd largest bank in the world by market capitalization and 6th largest company in the world in 2015. Trade and Development Bank, Mongolia’s leading trade finance service provider and CCB have held a close cooperation since 2007 in terms of MNT and RMB transactions, co-financing and trade financing services.
Trade and Development Bank of Mongolia has further extended its cooperation with China Construction Bank by signing a Memorandum of Understanding on “Border Trade Loan Agreement” on August 21st, 2017. This agreement validates extensive trade financing opportunitites to business entities handling import and export of equipment and goods between Mongolia and China, moreover, enables delivery of loans with more favorable conditions, promoted bilateral trade development and strategic partnerships. Furthermore, the two parties are currently working on co-financing of large-scale construction and infrastructure projects in Mongolia.

Mongolian parliament to hold session on dismissal of prime minister www.globaltimes.cn

The Mongolian parliament issued an ordinance Wednesday on convening an extraordinary session to discuss the removal of the country's prime minister. 

President of Mongolia, H.E. Battulga Khaltmaa, witnesses heroic Mongolian victory www.ijf.org

The 2017 Suzuki World Judo Championships saw Mongolia break Japan’s strangehold over the gold medals on Wednesday as Rio 2016 Olympic silver medallist DORJSUREN Sumiya became their country’s second female world champion in the history of Mongolia and first non-Japanese winner here in Budapest, in front of the President of Mongolia, H.E Battulga Khaltmaa.

After an epic World Championships final between DORJSUREN and world number one YOSHIDA Tsukasa (JPN) it was the Mongolian who won on the IJF’s biggest stage after a 15-minute duel for gold which teased, tantalised and elated the crowd all at the same time.

The President of Mongolia, H.E. BATTULGA Khaltmaa, who is also President of the Mongolian Judo Association, has often worked out with his country’s national team at their training centre in Ulaanbaatar and was on the edge of his seat for the duration of the contest.

H.E. BATTULGA Khaltmaa watched the final from his matside position only metres away from the action and was swiftly congratulated by all those around him as the crowd was awash with Mongolian flags and supporters who sang the loudest anthem of the competition so far.

H.E. BATTULGA Khaltmaa said: “The gold medal is very important. We are here to get the gold medal. We were planning on getting the gold medal in -48kg category but we could only get the silver.

“Today is a great day for Mongolia and we have still good judoka to come. We won against Japan and took the first title for a non-Japanese athlete. France won its first medal of the competition and we have now four medals. Mongolian judo is becoming the number one sport in my country. But judo is much more than a sport. It is discipline and education, as well as respect, and in judo we bow to each other. Today we have discovered the new heroes of Mongolia.”

After a scoreless opening four minutes, the seconds and minutes elapsed as both judoka were unrelenting in their bid for gold on day three in Hungary. At the six minute mark of golden score, the crowd were out of their seats clapping trying to energise both judoka and they didn’t want the all-action final to end. DORJSUREN was manoeuvring for an opening and after nine minutes of golden score she threw YOSHIDA with a koshi-guruma for a waza-ari which was worth world gold. DORJSUREN reacted by throwing her hands up in the air before tapping the Mongolian flag on her judogi to show the world where she comes from and where the world title was going to.

Rio opens 16th Pilbara iron ore mine www.mining.com

Rio Tinto (ASX, LON:RIO), the world's second largest iron ore producer, on Wednesday formally opened its 16th iron ore mine in the Pilbara region of Western Australia.

South Korean court orders Kia Motors to pay about $374 million to workers www.reuters.com

SEOUL (Reuters) - A South Korean court on Thursday ruled against Kia Motors, ordering the automaker to pay around 420 billion won ($374 million) in unpaid wages.

Tokyo & Washington to limit North Korean access to oil - media www.rt.com

EIB backs USD 120 million Sainshand wind farm in Mongolia www.globalfdi.net

The Sainshand wind farm in Mongolia, the third privately financed wind farm in the country, will receive a USD 120 million project financing package from a group of international investors and financiers.

Located 460 km south-east of Ulaanbaatar in the Gobi Desert, Sainshand Salkhin Park LLC is sponsored by French energy leader ENGIE, German project developer Ferrostaal, Danish Climate Investment Fund (DCIF) and Mongolian entrepreneur, Radnaabazar Davaanyam, with long-term financing provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

The lenders have agreed to provide a total project financing of USD 78.5 million, which comprises EIB funding of USD 47 million, of which the first tranche will be guaranteed by EKF, Denmark’s Export Credit Agency, with NORD/LB acting as agent; and EBRD funding of USD 31.5 million.
Once operational, the new Sainshand wind farm will make a significant contribution to reducing Mongolia’s carbon emissions and cater for an expected increase in power demand in the country. The scheme will significantly enlarge Mongolia’s renewable energy capacity and help the government to achieve the goal of renewable energy accounting for 20 per cent of all power by 2020, and 30 per cent by 2030.

Jonathan Taylor, Vice President, European Investment Bank (EIB), said: “The European Investment Bank is committed to supporting climate-related investment across Asia and is pleased to support development of wind power in Mongolia, which provides an alternative to coal use. The Sainshand wind farm will use world-class technology and demonstrate that wind power can be successfully harnessed in remote regions facing a harsh climate.”

Hans-Dietmar Schweisgut, Ambassador, European Union to Mongolia, said: “Mongolia and the European Union are signatories of the Paris Climate Agreement and the new Sainshand wind farm shows the close partnership between Europe and Mongolia to reduce carbon emissions through renewable energy. European finance and technical expertise, working in close cooperation with Mongolian partners, demonstrate a shared ambition to harness wind from the Gobi Desert to tackle climate change.”

The Sainshand wind farm will be built by China Machinery Engineering Corporation (CMEC) as the engineering, procurement and construction (EPC) contractor, and will use 25 Vestas V110 2.2 MW turbines to deliver up to 55 MW of clean energy that will save an estimated 200,000 tonnes of carbon emissions. Construction at the site is expected to start later this summer and be completed before the end of 2018. It follows three years of wind surveys to measure the high-yield winds in the area. The average wind speeds per second at the site are ideal for onshore wind energy.

The project has been developed in consultation with the local communities and a detailed environmental impact assessment has been approved by the relevant national authority. Financing has been agreed following preparation of a comprehensive environmental and social management system compliant with international standards such as those of the EBRD, EIB, International Finance Corporation (IFC) and the Equator Principles.

The European Investment Bank has operated in Mongolia since 1997 and past engagement has supported investment in water infrastructure in the capital Ulaanbaatar.

The EIB is one of the world’s largest financiers for renewable energy investment and last year provided €3.9 billion for renewable energy projects including wind, geothermal, solar and hydropower schemes around the world.

Orbán meets with Mongolian president www.bbj.hu

Prime Minister Viktor Orbán met with Mongolian President Khaltmaa Battulga in Budapest on Tuesday, state news wire MTI reported. Minister of Foreign Affairs and Trade Péter Szijjártó also met with his Mongolian counterpart during the day.

Mongolia sends 26 peacekeepers to South Sudan www.xinhuanet.com

ULAN BATOR, Aug. 29 (Xinhua) -- Mongolia held a farewell ceremony here on Tuesday to see off its 26 peacekeepers to South Sudan.
The new team from Mongolia's National Emergency Management Agency (NEMA) is the seventh batch of Mongolian peacekeepers to South Sudan.
The NEMA troops have been participating in UN peacekeeping operations since 2012, said NEMA chief Brigadier-General T. Badral said at the ceremony.
"We are pleased that over the past period more than 240 Mongolian troops have served in UN operations to ensure safety and protection of peace around the world," he said.
After his speech, Badral handed over national flag and the flag of his organization to J. Khash-Erdene, a senior lieutenant from the Special Rescue Division of NEMA, who will lead the seventh batch of Mongolian military contingent in South Sudan.
Mongolia's NEMA was created as a regulatory body for disaster coordination in Mongolia at the recommendation of the United Nations, following a disaster hitting the country in 2001.