1 DEPUTY PRIME MINISTER S.AMARSAIKHAN DISMISSED FOR VIOLATING ACCOUNTABILITY AGREEMENT WWW.GOGO.MN PUBLISHED:2025/10/29      2 STATE EMERGENCY COMMISSION ORDERS READINESS AMID FUEL-SHORTAGE RISKS WWW.GOGO.MN PUBLISHED:2025/10/29      3 WORLD BANK TO ASSIST MONGOLIA IN COP17 PREPARATIONS WWW.MONTSAME.MN PUBLISHED:2025/10/29      4 CRIMINAL INVESTIGATION LAUNCHED AGAINST MP D.AMARBAYASGALAN WWW.GOGO.MN PUBLISHED:2025/10/28      5 MONGOLIA AND GERMANY TO HOLD NEGOTIATIONS ON DEVELOPMENT COOPERATION WWW.MONTSAME.MN PUBLISHED:2025/10/28      6 MONGOLIAN HEALTH WORKERS BEGIN STRIKE AFTER EIGHT DAYS OF PROTEST WWW.ASIANEWS.NETWORK PUBLISHED:2025/10/28      7 STEPPE FIRE DESTROYS 800 HECTARES OF LAND IN EASTERN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2025/10/28      8 MONGOLIA’S CORRUPTION PROBE AT OYU TOLGOI MINING OPERATIONS UNFOLDS WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/10/28      9 RIO TINTO AND SPIC QIYUAN BEGIN BATTERY-SWAP TRUCK TRIAL IN MONGOLIA WWW.MINING-TECHNOLOGY.COM PUBLISHED:2025/10/28      10 THE EUROPEAN UNION - MONGOLIA BUSINESS AND INVESTMENT FORUM LAUNCHES A NEW ERA OF ECONOMIC PARTNERSHIP WWW.EEAS.EUROPA.EU PUBLISHED:2025/10/28      "С.АМАРСАЙХАН ХАРИУЦЛАГЫН ГЭРЭЭ ЗӨРЧСӨН ТУЛ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР АЛБАН ТУШААЛААС НЬ ОГЦРУУЛСАН" WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/29     ЗГ: ГЭР БҮЛИЙН ТУХАЙ ХУУЛИЙН ШИНЭЧИЛСЭН НАЙРУУЛГЫГ ХЭЛЭЛЦЭНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/29     ҮСХ: ДИЗЕЛИЙН ТҮЛШ ЛИТР ТУТАМДАА 74 ТӨГРӨГӨӨР ӨСӨЖ ₮3014 БОЛОВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/29     ЭНЭ ОНЫ ЭХНИЙ 10 САРД 14,785 ХҮҮХЭД ХҮЧИРХИЙЛЭЛД ӨРТЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/29     РИО ТИНТО ГРУПП ОЮУТОЛГОЙ ХХК-Д АВЛИГЫН ЭСРЭГ ШАЛГАЛТ ЭХЛҮҮЛЭВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/28     УОК: ЭРСДЭЛД БЭЛЭН БАЙХЫГ ҮҮРЭГ БОЛГОВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/28     ЛАГ ШАТААХ ҮЙЛДВЭР ТӨСЛИЙГ ТӨР, ХУВИЙН ХЭВШЛИЙН ТҮНШЛЭЛЭЭР ХЭРЭГЖҮҮЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/28     УЛААНБААТАР-СИНГАПУРЫН ЧИГЛЭЛД ШУУД НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/10/28     ЗАЙСАНГИЙН ГҮҮРИЙГ 54 ЖИЛИЙН ДАРАА БҮРЭН ШИНЭЧИЛЛЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/28     ЦЕГ-ЫН ДАРГААР Ж.БОЛДЫГ ТОМИЛЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/28    

Category

Events

Events

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

NEWS

64x64

Why Investing in Water Storage Matters in Mongolia’s Gobi Desert www.thediplomat.com

Given that Mongolia has been ranked as one of 36 high-water-risk countries in the world, the recently concluded U.N. Water Conference touched on issues of immense importance to the country.
The U.N. Water Conference ended on March 24 in New York and emphasized that more robust actions are needed to manage, protect, and preserve water sources and improve lives. The conference generated more than 700 commitments by member states, multilateral banks, the private sector, and NGOs. It brought together many stakeholders, including heads of state, world business leaders, civil society, young people, scientists, academics, indigenous people, U.N. agencies, and others to urge the world to accelerate Sustainable Development Goal 6 (water and sanitation for all by 2030) and to make significant progress across all SDGs.
During the conference, U.N. Secretary General António Guterres highlighted that progress on water-related goals remains significantly low, thus undermining the entire sustainable development agenda. Moreover, he urged countries and businesses to work together to tackle issues of water overconsumption and the impacts of climate change to prevent further conflicts and forced migration due to increasing water scarcity worldwide. Guterres said, “We are draining humanity’s lifeblood through vampiric overconsumption and unsustainable use and evaporating it through global heating. Governments must develop and implement plans that ensure equitable water access for all people while conserving this precious resource.”
What can can the government of Mongolia do to tackle water scarcity issues in the Gobi Desert region?
Groundwater is the main water source of drinking and industrial water in Mongolia. This is particularly true for the Gobi Desert region. The Gobi Desert constitutes 30 percent of the country’s territory. In this region, both livestock, which numbered more than 1.8 million as of 2018, and mines, of which there were more than 70 as of 2020, rely on groundwater. Both sectors are regarded as important pillars of Mongolia’s economy.
The Gobi Desert region in Mongolia hosts major mining developments, including the Oyu Tolgoi copper-gold mine, the Tavan Tolgoi coal mines, the Mongolian Alt Corporation coal mines, the Energy Resources coal mine, and the Erdene Resources gold mine among others. All these mining companies use underground water from the Galba Doloodyn Uush River Basin (see figure below). It has been estimated that mining will be the dominant user of water (83 million cubic meters per year) in Mongolia by 2025.
With intensified mining and ore processing, the use of groundwater is increasing dramatically. Mining companies extract water from the Galba Uush Doloodyn Gobi Basin (GUDGB) for their mines; GUDGB has approximately 236 million cubic meters/year of renewable groundwater resources available. Based on estimates of water consumption of approximately 108.2 million cubic meters/year to 2025, there appears to be no immediate water shortage. Recognizing the huge demand by the mining industry, the government put in place a plan to transfer surface water by diversion from Orkhon and Kherlen Rivers. However, the plan hasn’t yet been implemented. Increased mining development with no additional water supply puts more pressure on groundwater reserves.
Many herders in the Gobi Desert have observed water shortages in their wells. Research studies also indicate that climate change poses significant challenges to herders as variability and water extremes increase. The frequency and severity of climate-related natural disasters such as dzuds (extreme winter storms with heavy snowfall, along with droughts, floods, and sand and dust storms) are also projected to increase, with harmful effects on agriculture, livestock, water and land resources, infrastructure development, and the public’s health and well-being.
The availability of water for livestock is one of the toughest issue among Mongolian herders. The scaling up of open-pit mining has fractured and physically destroyed pasturelands, and dust from heavy trucks has deteriorated the living conditions of herders. In a broader sense, this situation threatens not just a few herders, but the livestock sector’s future in the region. In the long run, water scarcity could become a major limiting factor for the economic growth of Mongolia.
In the Southern Gobi region, projections show that expected water demand could exceed available resources in the high-water demand scenario before 2030. At the same time, more mining projects and processing plants are being approved by the government. To ensure sustainable water resources management in the region, and enable long-term economic development, the Mongolian government must invest in water storage in the Gobi region in order to ensure water access to local herding communities and other water stakeholders.
In the Gobi region, groundwater is limited, and future water demands could generate conflicts between mining companies and local communities. Actions to improve water storage in the region should be planned well and implemented immediately.
Why is water storage improvement needed?
Water storage provides three major services that support economic growth, people, and the Earth. It ensures the availability of water, reduces the impacts of floods, and provides a variety of services for economic sectors. In the Gobi region, there is a huge demand to find water solutions. Government and water stakeholders should look for alternative water supply options that are sustainable and efficient. Specifically, solutions such as improving current natural water storage and investing in built water storage systems are of high importance.
Water storage is becoming an essential tool for securing water during the dry season and adapting to climate change. Climate change brings less predictable and more variable precipitation, it makes reliable water supply difficult, affecting the economy and livelihoods. Water storage offers the potential to address these issues by increasing water availability and reducing the impacts of floods.
For instance, herder well rehabilitation and maintenance is one way to improve water storage in the Gobi, and scientists have found a low-cost way to make clean drinking water from the air. There are many technological innovations developed and tested in the world. We need to explore them and find ways to adopt these in the Gobi Desert context based on needs and conditions. Making bioswales is another cost-effective and nature-based solution for water storage.
Improving natural water storage will contribute to addressing water scarcity in the region and prevent potential conflicts, and of course, promote economic growth. Sustainable water solutions are of crucial importance for societal development, human life, and for the Earth.
GUEST AUTHOR
Bolormaa Purevjav
Bolormaa Purevjav is a fellow at the Institute of Asian Research, University of British Columbia.
 
 
 
...


64x64

Mongolia receives over 130,000 foreign tourists in Q1 www.xinhuanet.com

Mongolia has received more than 130,000 foreign tourists in the first quarter of this year, the country's Ministry of Environment and Tourism said Monday.
The Mongolian government has been taking measures to revive the pandemic-hit tourism sector, urging the public to contribute to a more tourist-friendly country.
In January, 34 countries were granted visa-free entry to Mongolia for tourism purposes, increasing the number of visa-exempt countries to 61. Nationals from those countries can remain in Mongolia for up to 30 days until the end of 2025.
The country has also classified 2023-2025 as "Years to Visit Mongolia" and is expected to organize more than 90 events in 2023 to promote tourism.
Currently, Mongolia's economy is mainly dependent on its export-oriented mining sector. Developing tourism is seen as the most viable way to diversify its economy.
Mongolia has set a goal of welcoming at least 1 million foreign tourists and earning 1 billion U.S. dollars from tourism in the coming years.
The country received 290,400 foreign tourists in 2022, earning 350 million dollars from the tourism sector.
...


64x64

Petro Matad announces operational update www.energy-pedia.com

Petro Matad, the AIM quoted Mongolian oil company, has provided an operational update.
Key Company Updates
The Velociraptor 1 well is scheduled to spud in June 2023 as soon as the rig is released from its current programme.
Documentation to certify the Block XX Exploitation Area as special purpose land is being prepared by the Ministry of Mining and Heavy Industry for submission to cabinet for approval.
Negotiations between Petro Matad and the government for a new block in Mongolia's 2023 Exploration Tender Round have commenced.
Block V Exploration
Following discussions with selected drilling contractor, Major Drilling, a spud date for the Velociraptor 1 well has been confirmed for June 2023 following completion of Major's current programme for another operator. All required equipment for the well is in country. Field work has commenced to make ready the water supply well that will be used to supply the operation. Site construction will commence during May in good time for the scheduled June spud. The well is expected to take around 30 days to drill to a prognosed total depth of c.1500m.
Photo - see caption
The Velociraptor 1 well is scheduled to spud in June 2023
Block XX Exploitation Licence
Documentation has been prepared by the Ministry of Mining and Heavy Industry and circulated to other relevant ministries in advance of submission to cabinet to secure approval to certify the Block XX Exploitation Area as a Special Purpose Area. The certification is being proposed on the basis that the Heron development is a project of national importance. We are pushing for the matter to be brought to cabinet urgently in order to allow in-field activities to commence to make the Heron 1 well ready for production.
2023 Exploration Licencing Round
Negotiations have commenced with MRPAM on the block for which Petro Matad has submitted an application in Phase 1 of the 2023 open tender exploration licencing round. Phase 2 of the round has recently been announced and the third phase is expected to be announced in the next few months. The Company is reviewing the newly offered blocks and plans to submit applications on those it has high-graded.
Mike Buck, CEO of Petro Matad, said:
'As shareholders will know, we have wanted to drill Velociraptor for some time now and so we are very excited to have agreed a firm schedule with the drilling contractor. The necessary preparatory work is already underway and all equipment for the well is in country ensuring we are ready to spud in June.
We continue to push the Mongolian Government for the certification of Block XX Exploitation Area as Special Purpose Land and are pleased that the Ministry of Mining and Heavy Industry is proposing the certification on the grounds of this being a project of national importance.'
...


64x64

Mongolia to Cooperate with Finland in Education Sector www.montsame.mn

Minister of Education and Science L. Enkh-Amgalan met with Ambassador Extraordinary and Plenipotentiary of Finland to Mongolia, with residence in PRC, Ms. Leena-Kaisa Mikkola on March 28.
At the beginning of the meeting, the Minister of Education and Science congratulated on the presentation of her Letter of Credence to the President of Mongolia and wished her success in her future endeavors.
In 2022, the Working Group of the Ministry of Education and Science to revise the package of Law on Education visited the Republic of Finland two times in order to learn from their education system. During the visit, members of the Working Group visited some government organizations, universities and kindergartens.
The Ministry of Education and Science and "Eduten" company, a spin-off of University of Turku, Finland signed Memorandum of Understanding last year. As a result, Mongolian secondary school students have been able to use Eduten, digital math learning platform, in their mother language.
Minister of Education and Science expressed intends to cooperate in short and long term capacity building training for university teachers, matching funds for students and “President’s Scholar-2100” scholarship program of the President of Mongolia with Finland's universities. In response, Ambassador Ms. Leena-Kaisa Mikkola indicated her readiness to further expand the bilateral cooperation, especially in education sector.
...


64x64

Central Bank to transfer mortgage loan program to Government within second quarter of this year www.gogo.mn

The general session of the 2023 spring regular session of the Parliament started today, March 31, 2023.
B.Delgersaikhan, the Parliament Member, clarified about the mortgage loan and the economic situation from the Bank of Mongolia.
G.Enkhtaivan, Deputy Governor, Bank of Mongolia, reported, “The Central Bank has been involved in this issue for the past two years under the Covid law approved in 2020. In this framework, mortgage loans of MNT 1 trillion disbursed in 2021 and MNT 700 billion in 2022. Due to Covid Law terminated on December 31, 2022, the Central Bank stopped providing financing for the mortgage loan program. Currently, commercial banks are financing their repayments.
About 20% of mortgage loans are disbursed in rural areas. This year, the loan will be disbursed to citizens who have moved to the rural area or citizens who live there. The mortgage program will focus on rural areas. The Central Bank is working to transfer the mortgage loan program to the government by the second quarter of this year”.
...


64x64

Erdenes Tavan Tolgoi JSC traded 96,000 tons coal through exchange www.gogo.mn

On March 31, 2023, "Erdenes Tavan Tolgoi" JSC successfully organized another online coal trading and sold 15 batches of 96,000 tons of thermal coal through the exchange.
A total of two enterprises participated in online trading and traded one ton of thermal coal from USD 68.30 to USD 70.30.
...


64x64

Feasibility study of Shiveekhuren-Sekhee port cross-border railway developed www.gogo.mn

In the framework of the port revival, which is included in the new revival policy of the government, Mongolian Railway State-owned shareholding company is performing the construction works of the railway project.
The Shiveekhuren-Sekhee port railway will be put into operation in July, and it is planned to transport 250-300 thousand tons of cargo until the end of December 2023, according to the Ministry of Road and Transport Development.
According to the Government Resolution No. 446, Mongolian Railway SOSC was granted an authority to perform the Shiveekhuren-Sekhee and Bichigt-Zuunkhatavch cross-border railway projects.
Mongolian Railway SOSC is implementing the works necessary for the construction of the Shiveekhuren-Sekhee port railway in stages. Currently, engineering-geodesy, engineering-geology, geotechnical, and hydrological research works have been completed.
The work of developing the detailed design of the railway of the port is under performance to be finished in April. Mongolian Railways SOSC has completed the technical and economic feasibility study and is ready to be discussed and approved by the Scientific and Technical Council of the Ministry of Road and Transport Development.
...


64x64

Wonder shot helps Mongolia reclaim Fiba 3x3 Asia Cup crown www.straitstimes.com

His team had let slip a 17-12 lead to allow defending champions Australia to draw level at 18-18 in the Fiba 3x3 Asia Cup men’s final.
But Mongolia star Anand Ariunbold did not wobble, for he is after all the 2022 Fiba 3x3 World Tour’s Most Spectacular Player, as voted by fans bewitched by his wondrous shot-making.
On Sunday, a capacity crowd of more than 700 fans at the OCBC Square caught a glimpse of the 25-year-old’s magic when he capitalised on a screen by Dulguun Enkhbat to pull off a shot from beyond the arc.
Despite being thrown off balance by Andrew Steel, Ariunbold drilled the two-pointer, drew the foul and converted the free throw to help his team win 21-18 and regain the title they last picked up on home soil in 2017.
In 3x3, every made basket inside the arc is worth one point, and every successful shot behind the arc earns two. The first team to score 21 points, or the side with more points at the end of the single 10-minute period, win.
After preening and accepting the plaudits from the crowd, he said: “I practise difficult shots all the time in training and I’m so happy to see it go in at such a crucial time. This shot is for Mongolia.”
With a population of under 3.4 million, his country is more known for individual sports like boxing and wrestling. But it is now also excelling in the sport, with their women’s 3x3 team qualifying for the delayed Tokyo Olympics in 2021.
While Olympian Khulan Onolbaatar and her teammates were knocked out by China in the quarter-finals in Singapore, she cried tears of joy as she watched her 27-year-old brother Enkhbaatar win gold.
The 23-year-old said: “We started playing 3x3 when we were around 18.
“Before that we were just studying and not doing any sports. So this really shows anything is possible if you find something you love and work hard at it.”
Men’s Most Valuable Player Delgernyam Davaasambuu, who also made the Team of the Tournament with Australia’s Daniel Johnson and New Zealand’s Tai Wynyard, shared that 3x3 started gaining more popularity after they won bronze at the 2012 Asian Beach Games.
The 32-year-old, who scored just two points and one rebound in the final but led the team with distinction, said: “We are not too tall or too short, and we are strong and quick, which are perfect conditions for this more physical version of basketball.
“After our 2017 success, even more people started playing 3x3. We made four finals and we have six professional teams – four men’s and two women’s – and a league that has 36 teams.
“It is the most popular sport in Mongolia now.”
The Mongolians’ triumph denied the Aussies a double, as their women’s team breezed past New Zealand 21-11 in their final as Marena Whittle – who scored 10 points and seven rebounds – was voted MVP and made the Team of the Tournament with teammate Anneli Maley and the Kiwi Sharne Pupuke-Robati.
The Australians also made up for previous disappointment after losing the 2022 final to China.
Lauren Mansfield said: “Yeah, three of us returned from last year and having that extra experience helps. We are also a bit more dynamic this year with Alex (Wilson). We can all shoot, we can all attack so we are more complete now.”
Maley, who played for Chicago Sky in the WNBA (Women’s National Basketball Association) in 2022, hailed the Australian basketball “gangaruss” spirit.
The 24-year-old, who is heavily tattooed on her left arm, said: “That’s kangaroo in our indigenous language and we all play for each other.
“We have Lauren who’s the sharpshooter. She’s crafty, she finds everyone. Marena, there’s not a single person in this world who’s stronger than her. Alex Wilson can break anybody’s ankle, and I’m your hustle player.
“We are a family and best mates on and off the court, and yeah we may get new tattoos together to commemorate this win. Watch this space!”
The Kiwi men took the bronze with a 21-13 win over China, who had eliminated Singapore 21-14 in the quarter-finals. The Chinese women beat Thailand 11-9 for third place.
...


64x64

Australia sees lithium exports matching thermal coal by 2028 www.bloomberg.com

Australia sees its booming lithium sector matching thermal coal’s importance within five years as the world increasingly shifts from fossil fuels to clean energy.
Exports of the battery metal are seen at A$19 billion ($13 billion) in the year to June 2028, matching the record seen for the current financial year, according to government projections released Monday. Meanwhile, the value of power station coal shipments will drop 71% in the period.
Australia has benefited from the global shock to commodities markets following post-Covid supply bottlenecks and Russia’s invasion of Ukraine in February last year. Mineral exports are set to reach a record A$464 billion in the year through June 2023, despite a recent cooling of prices, before plunging to A$289 billion by 2027-28, nearer levels from a decade earlier.
The data show the growing role the metals vital to global electrification, such as lithium and copper, are set to play in Australia, one of the world’s biggest fossil fuel exporters. Mining and energy accounts for almost 14% of the economy in the nation, which is currently the biggest shipper of lithium and the second-biggest provider of thermal coal.
Australia Sees Lithium Exports Matching Thermal Coal by 2028
While lithium prices are unlikely to return the records set last year, partly a result of global carmakers competing over limited supply to meet ambitious electric vehicle targets, increased output should see the battery metal match thermal coal as the fifth-biggest export. Along with copper it is the only one of the 12 biggest energy and metal exports that will hold or increase its value, according to the report.
Earnings from shipping copper are set to rise to A$15 billion in 2027-28 from A$13 billion this year. Demand for the red metal, which is used in electrical wiring and is vital in most clean energy technologies, will as much as double over the next decade, according to S&P Global.
Australia has no existing industry that could fill the gaps left by the declining values of fossil fuels, which are expected to drop as the world moves to carbon-free energy, and of iron ore, which is set to see demand plateau over the next decade as China’s growth slows.
Green hydrogen is the only industry that could match fossil fuel export earnings, according to a government report released in January. But while many massive-scale projects have been proposed, none has begun construction and a wide market for the zero-carbon fuel doesn’t yet exist.
(By James Fernyhough)
...


64x64

China's loans to Africa worry World Bank President David Malpass www.bbc.com

The president of the World Bank has told the BBC that he is concerned about some of the loans China has been making to developing economies in Africa.
David Malpass says the terms and conditions need to be "more transparent".
It comes amid worries that countries including Ghana and Zambia are struggling to repay their debts to Beijing.
China says that any such lending is done within international rules.
Developing countries often borrow money from other nations or multilateral bodies to finance sectors that will grow their economies such as infrastructure, education and agriculture.
However steep increases in interest rates in the US and other major economies over the last year are making loan repayments more expensive because lots of that borrowing is done in foreign currencies such as US dollars or euros.
It is a particularly acute problem for developing economies who can struggle to find the extra money that is required as the relative value of their own currency falls.
It is a "double whammy and it means that [economic] growth is going to be slower", says Mr Malpass.
US-China rivalry
Tackling that challenge and its consequences was one of the main reasons for this week's visit by US Vice-President Kamala Harris to three African countries. It is a visit that comes with big commitments of financial support to Tanzania and Ghana.
There is a growing rivalry with China for influence in the continent, whose abundance of natural resources include the metals, such as nickel, crucial for the batteries needed for technology such as electric cars.
Speaking in Ghana's capital, Accra, she said "America will be guided not by what we can do for our African partners, but what we can do with our African partners".
While highlighting a new nickel processing facility in Tanzania Ms Harris said the project would be supplying the US and other markets by 2026 and that it would "help address the climate crisis, build resilient global supply chains, and create new industries and jobs".
That collaborative approach was praised by Mr Malpass who said the competition between the world's two biggest economies was "maybe healthy for developing countries" as it provided different options.
"What I encourage strongly is that they be transparent in their contracts. That's been one of the problems; if you write a contract and say 'but don't show it to anybody else', that's a minus. So get away from that."
There was also a warning that "for governments in Africa, they shouldn't be offering collateral as an inducement to make a loan, because it locks it up for generations. That's been happening with China."
Beijing has become one of the biggest sources for loans to developing economies in recent years. A new study led by the Kiel Institute for the World Economy shows that globally China lent $185bn (£150bn) in bailouts to 22 countries between 2016 and 2021.
China refutes suggestions that it is exploiting other countries with its financial support.
At a press conference this week Foreign Ministry Spokesperson Mao Ning said China "respects the will of relevant countries, has never forced any party to borrow money, has never forced any country to pay, will not attach any political conditions to loan agreements, and does not seek any political self-interest".
Mr Malpass said the problems were not unique to Chinese financing but things were improving.
"If you think of the history of Western lending, sometimes it's not for the full benefit of the people in the countries [being lent to]. Even World Bank loans haven't always been for the best that could have been done in a country."
"So what we're trying to do, and I think everyone should be trying to do, is improve the quality of the lending.
"One of the techniques is to unbundle the loan, meaning if there's an investment project, let's say you're building a train, describe the project and what the cost will be. And then separately, arrange the financing.
"If you bundle them together, it makes it very hard to know, am I getting a good deal on the train or on the financing."
Food and energy concerns
The outgoing World Bank president is also concerned that higher food, fertiliser and energy prices, as a result of the war in Ukraine, are sapping government budgets in poorer countries. While that could deepen the economic challenges they face there is relief that price rises are now starting to ease.
"The immediate crisis is over but one thing that's been left is that countries didn't use enough fertiliser, so their soil is depleted. So the yields are expected to be lower next year than normal."
"So a farmer that was just making ends meet, she didn't get fertiliser, and now her land is not as productive. And so where's the food going to come from for the family and for the community? That's the big immediate problem. What we're trying to do is help countries directly with fertiliser [and] with food."
The World Bank is concerned that these challenges will worsen a first-ever increase in the global extreme poverty rate - people getting by on less than $1.90 per day. As a result of the coronavirus pandemic it rose from 8.4% to 9.3%.
The planet's leading development body hopes that its upcoming showpiece joint Spring Meetings with the IMF in Washington will help it raise more money to tackle its key mission.
"The ambition is there," says Mr Malpass, "but the needs are much bigger than the amount of flows" of money coming in.
BY: By Jonathan Josephs
You can watch David Malpass' interview in full on Talking Business with Aaron Heslehurst on the BBC News Channel at 15:30 on Saturday, BBC iPlayer and on BBC World News on Saturday at 10:30 and 23:30 GMT and Sunday at 05:30 and 16:30 GMT.
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook