1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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EBRD and GCF support green lending in Mongolia www.ebrd.org

The European Bank for Reconstruction and Development (EBRD) is promoting green lending in Mongolia by organising a financial package of US$ 25 million to XacBank, the country’s most active creditor of green economy projects.
The package consists of an EBRD loan of up to US$ 18.75 million and concessional financing of up to US$ 6.25 million provided by the Green Climate Fund (GCF). It will help support domestic individuals and businesses willing to invest in climate mitigation and adaptation technologies and services. Beneficiaries can identify climate-friendly technologies with the help of the Green Technology Selector and dedicated technical support is available through a consultancy team funded by the GCF and Japan.
This is the latest project in Mongolia under the Green Economy Financing Facility (GEFF) programme, which is part of the EBRD’s Green Economy Transition (GET) approach, through which the EBRD aims to become a majority green bank by 2025. The programme operates through a network of more than 170 local financial institutions across 28 countries, supported by more than €5.8 billion of EBRD financing for over 220,000 clients to date. These projects have led to annual CO2 emission reductions of more than 9 million tonnes so far.
XacBank, the sustainability-award-winning financial institution and the first financial institution to join GEFF in Mongolia, will benefit from the EBRD’s experience in energy and resource efficiency and climate resilience financing.
The project is supported by technical assistance from the GCF and the Japan-EBRD Cooperation Fund.
GEFF Mongolia supports gender activities that aim to enhance equal opportunities for men and women to access finance for green technologies.
To date, the EBRD has invested almost US$ 2.17 billion in Mongolia’s economy through 122 projects.
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Gobi Wolf 2022 participants exchange knowledge and training from around the world www.mn.usembassy.gov

BAYANKHONGOR, Mongolia – For six days, military service members and first responders from countries spanning the globe trained in disaster relief and humanitarian assistance during Gobi Wolf 2022 in Bayankhongor, Mongolia.
The exercise began on Sept. 5 with expert academic discussions on a myriad of subjects. One expert on the panel was U.S. Air Force Master Sgt. Mark Hoover of the 36th Contingency Response Support Squadron.
No stranger to disasters, Hoover has responded to multiple events throughout his career, such as the 9.1 magnitude earthquake in Japan and the Black Forest Fire in Colorado that burned over 14,000 acres of land.
As a subject matter expert, Hoover led discussions focusing on negative visualization – a practice in which bad things are deliberately contemplated – and continuous process improvement.
“The Gobi Wolf exercise is, in itself, negative visualization,” said Hoover. “It puts people in situations that make them think about the worst outcome. If they don’t go through it as realistically as possible and exercise their response, then an actual disaster can get worse than it already is.”
Hoover said he finds exercises like Gobi Wolf to be a winning arrangement for all involved.
“The familiarization of the methods and resources used around the world just increases our effectiveness in what we do, no matter where we are,” said Hoover.
Discussions evolved into simulated disaster scenarios with field training lanes dealing in mass medical care, hazardous material contamination, and search and rescue.
Col. Anjankeshar Khatri, from the Nepal Armed Forces, has operated in real-world disasters including the 7.8 magnitude earthquake in Nepal in 2015. Khatri was a battalion commander at the time and is very familiar with how unpredictable disaster relief can be. With his experience, Khatri was able to closely examine the field training lanes for more insight on how to manage that unpredictability.
“Exercises like Gobi Wolf are extremely effective,” Khatri said. “At the time of a disaster there will be chaos and Gobi Wolf trains you to respond effectively and modify according to the situation.”
Khatri was especially interested in the medical lane that exhibited a Level 2 field hospital tent equipped with an intensive care unit that improves upon the Level 1 field hospital tent. Upon observing the hazmat lane during the field training demonstration, Khatri said he learned a great deal on decontamination processes.
“It was very informative to see the layout of the medical tent and learn about all its capabilities,” Khatri explained. “And I found the techniques used in the hazmat lane fascinating to watch.”
The exercise sought to exchange information with all the services and entities and succeeded in imparting valuable knowledge where it was needed. Brig. Gen. B. Uuganbayar, deputy director of the Mongolia National Emergency Management Agency, said that this exercise marked the first time NEMA conducted medevac by helicopter and established a field hospital in the Level 2 layout. In turn, Uuganbayar said, Mongolian physicians shared traditional medicines that international participants greatly appreciated.
“The exchange of knowledge between us was very successful,” said Uuganbayar. “Through the exercise we have learned from each other and improved our skills in a mutual capacity. We are very thankful.”
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China Gets a Coal Lifeline Before Winter With Mongolia Rail Spur www.bloomberg.com

China’s efforts to make sure it’s well-stocked with its mainstay fuel for what promises to be a grueling winter for energy markets received a boost with the completion of a new rail line in Mongolia last week.
The 240-kilometer (149-mile) spur from the Tavan Tolgoi coal mine in the Gobi Desert to China’s border officially opened last week and is already showing dividends. With trucks now only having to make a short journey through the border zone instead of a long-haul trip from the coal mine, the land port at Ganqimaodu recorded 668 crossings on Monday, up from an average of 560 in August, China Coal Resources reported.
Clearances are expected to gradually increase to about 700 a day and the port has tested its ability to boost that to 900, according to the report. Mongolian President Khurelsukh Ukhnaa said in a speech last week that the rail line could haul as much as 50 million tons a year to the border. The country exported a record 36 million tons in 2019 before flows slowed dramatically because of stricter Covid-19 border controls.
While Mongolian coal tends to be used more by steelmakers than power plants, a boost in shipments could help ballast Chinese stockpiles ahead of the winter heating season. A historic drought in Sichuan and Yunnan is forcing hydropower dams to reduce generation, requiring more fossil fuels to be burned around the country to make up the difference. With international coal and gas prices near records amid soaring European demand, Chinese utilities will be keen to avoid having to tap seaborne supplies as much as possible.
The rail spur is also expected to be a boon for Mongolian miners, which rely on China to buy nearly all of their exports. It will reduce the cost of transporting coal to the border to $12 a ton from $47, according to China Coal Resource, and revenue from coal exports is expected to double, Khurelsukh said last week.
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Russian gas and coal: Beijing secures the 'Mongolian route www.asianews.it

Beijing (AsiaNews) - Mongolia is becoming increasingly central to China's energy supplies. Ulaanbaatar has just inaugurated a new railway line that will increase its coal exports to China from 30 to 50 million tonnes per year.
At 233 kilometres long, the new route connects Tavan Tolgoi with Gashuun Sukhait, a Mongolian border crossing with Chinese Inner Mongolia. The mining industry accounts for a quarter of Mongolia's GDP, while Beijing has increased its coal purchases to compensate for energy problems due to extreme temperatures and high gas and oil prices on the world market - all in derogation of Xi Jinping's 'decarbonisation' targets.
Russian gas will also pass through the 'Mongolian route' to China. Ulaanbaatar and Moscow have announced that in 2024 construction work will begin on Power of Siberia 2, the pipeline to transport gas extracted from the Russian Yamal field, which currently serves Europe, to Chinese territory.
When fully operational, Power of Siberia 2 is expected to have a flow rate of 50 billion cubic metres per year, to be added to the 38 billion cubic metres that on paper its sister pipeline, which went into operation in 2019, can supply.
The new pipeline will not be operational until 2030 at the earliest. In the most optimistic scenario, it will push Russian gas exports to China to 128 billion cubic metres per year, an amount that will not cover the nearly 200 billion that Moscow will lose from Europe in response to the Putin invasion of Ukraine.
The geographical location makes Mongolia a significant geopolitical chessboard for the great powers. Ulaanbaatar is playing along, trying to get along with China, Russia and the US while gaining economic advantages.
It is no coincidence that the new Mongolian railway line will run 16 locomotives manufactured by the US company Caterpillar. In the form of grant aid, Washington has also allocated 0 million to solve the water problems in the capital Ulaanbaatar, where almost half of Mongolia's 3.3 million inhabitants are concentrated.
Beijing remains the most advantaged player in this three-way game: 90% of Mongolian exports go to China, while imports of Chinese products account for one third of Ulaanbaatar's total. On a visit to Mongolia from 10-12 September, the chairman of the Standing Committee of the National People's Congress Li Zhanshu said that the long-term interests of the two countries coincide.
What the Chinese regime's number three said is only partly true: there is in fact no lack of friction between Beijing and its northern neighbour. In October 2020, dozens of protesters gathered in Ulaanbaatar to demand the release of ethnic Mongolians arrested in China. One month earlier, in the Chinese autonomous region of Inner Mongolia, students of Mongolian origin had revolted against the authorities for their decision to reduce the use of their native language in school curricula.
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Mongolia, Monaco exchange opinions on joint development of winter sports www.akipress.com

President of the National Olympic Committee of Mongolia Battushig Batbold met with President of the National Olympic Committee of Monaco and member of the International Olympic Commission Prince Albert II of Monaco.
During the meeting, the parties exchanged views on the involvement of Mongolian athletes and swimming athletes in joint training in Monaco for the 2024 Olympics in Paris, the development of sailing, rowing and winter sports.
The sides also touched discussed possibilities of organizing a conference of the International Olympic Commission in Ulaanbaatar and implementing environmentally friendly projects, including the Olympic Arena project.
Prince Albert II (Albert Alexandre Louis Pierre Grimaldi) as Chairman of the IOC Commission on Sustainable Development and Heritage expressed his willingness to support these projects and proposals.
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Rio Tinto, China Baowu to develop Australian iron ore project for $2bn www.reuters.com

Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region.
The deal comes amid fraught ties between Australia and China – the world’s top exporter and buyer of iron ore, respectively – with a recent push by Beijing to centralize purchases of iron ore stoking worries of a hit to mining giants such as Rio, BHP Group and Fortescue Metals.
China’s outbound direct investment in Australia has seen a steady drop since 2016, with a meagre $585 million investment in 2021 versus $11.54 billion in 2016, according to a report by accounting firm KPMG and the University of Sydney.
Rio, however, said last week it had established a strategic partnership with the new Chinese state-owned agency created to centralize iron ore purchases.
About the Western Range project in Pilbara, Rio said it would invest $1.3 billion to develop it and will hold a 54% stake in the project, while state-owned China Baowu will hold the remaining stake and will invest $700 million.
“Western Range’s annual production capacity of 25 million tonnes of iron ore will help sustain production of the Pilbara Blend from Rio Tinto’s existing Paraburdoo mining hub,” the world’s largest iron ore producer said.
Pilbara Blend products are known for their high-grade quality and consistency, and make up about 70% of Rio Tinto’s iron ore product portfolio, according to the miner’s website.
Baowu said on its official WeChat account that the deal with Rio would help “strengthen the partnership of mutual benefit and win-win results”.
The deal is subject to approval from the governments in Australia and China, as well as Rio shareholders.
Rio and China Baowu also entered a sales agreement that will see China Baowu, the world’s top steelmaker, buy up to 126.5 million tonnes of iron ore over about 13 years from the Western Range project in Pilbara.
“Rio and Baowu already have a JV arrangement in eastern range in Pilbara. Today’s deal is essentially an extension of that in the Western Range of Pilbara,” said John Mills, equity analyst covering mining at Morningstar in Sydney.
Construction at the project is expected to begin in early 2023, with first production anticipated in 2025, Rio Tinto said.
(By Sameer Manekar, Praveen Menon and Siyi Liu; Editing by Himani Sarkar)
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President departs for Samarkand www.montsame.mn

President of Mongolia U. Khurelsukh today has left for Samarkand, the Republic of Uzbekistan, to participate as an observer in the Meeting of the Council of Heads of the Shanghai Cooperation Organization (SCO) Member States.
During the event, the President plans to hold bilateral meetings with the heads of member states of SCO and observer countries to exchange views on issues of mutual interest.
Moreover, he will participate in the 6th regular tripartite meeting of the Heads of State of Mongolia, Russia, and China, which was postponed for two years due to the pandemic, to discuss the establishment of the ‘Economic Corridor Program’ for the three countries, and the implementation of a project of natural gas pipeline.
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Cement products to be exempt from import duties until the end of 2022 www.montsame.mn

At today’s regular meeting of the Cabinet, a decision was made to exempt cement products from customs duty until the end of this year.
Minister of Finance B.Javkhlan said, "The Cabinet came to this decision mainly due to the current situation. The busiest period in the road and construction industry is the 2nd and 3rd quarter of each year. At the same time, out of the four main Mongolian cement factories, the Khutul cement-lime factory is completely shut down due to technological innovation, expansion of production, and other repairs. As a result, there is currently a shortage of cement in the market, which could pose a risk of slowing down large-scale construction projects such as the Darkhan road construction.
The Cabinet believes that by canceling the customs duty of 20 percent on all cement products until the end of this year, the current price of MNT 500-600 thousand per ton will drop to MNT 400 thousand.
"In addition, another factor for the decision was the prevention of future increases in the price of cement. Thus, temporary measures are being taken to meet the domestic demand with imported cement. In the future, the policy of supporting domestic production and customs duties should be seriously considered. Apart from cement, special attention should also be paid to agricultural products. In doing so, the balance of three things must be ensured: the capacity of domestic producers, domestic demand, and filling the demand with imported products. This is the ultimate goal of satisfying the interests of consumers and setting fair prices”, added the Minister.
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Retired Olympic medalist judoka M.Urantsetseg makes her MMA debut www.montsame.mn

Olympic medalist State Honored Athlete of Mongolia M.Urantsetseg announced her retirement from judo after 16 years of career earlier this year to pursue a new path in her future.
Specifically, Mongolia’s one of the most respected and well-accomplished judoka announced that she is transitioning to Mixed Martial Arts (MMA), setting her eyes on the UFC belt.
Three months after her announcement, the Olympic medalist posted on her social media that she had been training at JacksonWink MMA Academy in the United States along with some of the best fighters in the country.
On September 11, the State Honored Athlete made her MMA debut, facing Amber Terrell who had a record of 4-3-0 (Win, draw, loss) for the PFC Amateur Strawweight (48-52kg) Championship.
The bout which was held in Jonesborough, Arkansas ended in the second round with Urantsetseg’s victory by submission.
“Although I could not finish off my opponent in the first round of the match, I am still happy with my victory. This is just the beginning of many accomplishments in MMA that I will be harvesting in the future”, said Urantsetseg after her victory.
The first-ever female World Champion in judo in Mongolia, she finally claimed the Olympic medal after suffering back-to-back defeats in Olympics in 2012 and 2016.
In 2020, Urantsetseg was registered at Guinness World Record with her achievement in judo wrestling. Specifically, she was named as a recipient of the most medals, winning a total of 35 medals: 11 gold, 11 silver, and 13 bronze medals in the women’s -48 kg and -52 kg categories during the competitions of the International Judo Federation.
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ADB expresses readiness to jointly implement technical assistance projects www.montsame.mn

Minister of Economy and Development Ch. Khurelbaatar met with the representatives led by Mr. Safdar Parvez, Advisor of the East Asia Department, Mr. Pavit Ramachandran, Country Director, and Mrs. Xiaoqin (Emma) Fan, Director of the Public Management, Financial Sector and Regional Cooperation Division.
During the meeting, parties exchanged views on the main economic indicators of Mongolia, the Government’s macroeconomic policy measures, and further cooperation in the field of supporting the private sector and improving infrastructure and border port capacity within the framework of the ‘New Revival Policy’.
Also, the Asian Development Bank expressed its readiness to jointly implement technical assistance projects for strengthening the capacity of the Ministry of Economy and Development.
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