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

Liverpool win Premier League: Reds' 30-year wait for top-flight title ends www.bbc.com
Liverpool's 30-year wait for a top-flight title is over after Manchester City lost 2-1 at Chelsea to confirm the Reds as Premier League champions.
Jurgen Klopp's side needed one victory to seal the league but City's failure to win means they cannot be caught.
It is Liverpool's 19th top-flight title and their first since 1989-90.
Despite being urged to "stay home" by the city's metro mayor because of coronavirus, thousands of fans gathered at Anfield to celebrate.
Many of the supporters who congregated at the club's ground wore face masks and some lit flares.
Klopp, wearing a Liverpool shirt and clearly emotional, told Sky Sports: "I have no words, it's unbelievable.
"It's much more than I ever thought would be possible, becoming champion with this club is absolutely incredible.
"I haven't waited 30 years, I have been here for four-and-a-half years, but it is quite an achievement, especially with the three-month break because nobody knew if we could go on.
"I know it is difficult for people in this moment but we could not hold back. We will enjoy this with our supporters when we can."
As the global pandemic disrupted life in England and led to the suspension of the Premier League for three months, Reds supporters endured a nervous wait to see how the season would be concluded, with some early suggestions it might have been declared null and void, thus wiping their remarkable efforts from the record books.
Thankfully for them, that did not come to pass, and the Premier League's return this month enabled them to cap their stunning success.
However, because of the measures put in place in response to the virus, the Reds will not be able to celebrate their long-awaited success with their supporters immediately, at least not in the traditional sense.
As with Wednesday's impressive 4-0 win over Crystal Palace, when they next play at Anfield - against Aston Villa on Sunday, 5 July, and for their two other remaining home games - it will be behind closed doors.
As things stand it also seems unlikely they will be able to partake in any of the usual public events in Liverpool, such as an open-top bus parade around the city.
By quirk of fate, though, the next time they take to the field will be at the side they have beaten to this season's title and who pipped them so narrowly last campaign, Manchester City.
Following their defeat at Chelsea, City boss Pep Guardiola congratulated Liverpool on their title success.
A record-breaking season
Winning the title was always the main aim for a club which had endured such a long wait to be crowned champions of England again, having earned that honour 11 times between 1973 and 1990.
But having achieved that ambition things could get better yet, with City's 100-point total for a season one of numerous records Liverpool can still break.
Klopp's side have produced one of the most memorable campaigns in Premier League history, amassing 86 points already, with a record of 28 victories, two draws and a single defeat from their 31 games.
Such has been their dominance, at one stage they led the table by 25 points - a record gap between a side in first and second in English top-flight history.
Liverpool this season v season average from previous 29
2019-20 Average (1990-91 to 2018-19)
28 Wins 19.57
2 Draws 9.72
1 Losses 9.14
70 Goals scored 65.45
21 Goals conceded 38.83
86 Points 68.57
90.32 Win % 50.81
Also still a possibility are the most wins in a season (the record is 32), most home wins (18), most away wins (16) and biggest winning margin (19 points).
Their title win this season is the earliest on record, at least with regard to games remaining, with the Reds having seven still to play.
That it is not the earliest title win by date is only because of the halting of football in England between March and May as a result of the coronavirus pandemic.
Thirty years of hurt...
Premier League: A lot has happened since Liverpool last won the league
Liverpool's triumph represents a huge moment for their fans, who grew accustomed to success in the 1970s and 1980s, including a run between the 1972-73 and 1990-91 seasons in which they only failed to finish first or second in the league once.
They have not been without silverware in the past 30 years, winning three FA Cups, four League Cups, a Uefa Cup, the Champions League twice - the latest coming last season under Klopp - as well as three Super Cups and one Club World Cup.
However, since Kenny Dalglish led them to the First Division championship, they have had to endure three decades without league success, during which their record tally of titles was surpassed by rivals Manchester United, who have 20 to their name.
It was during this period that United boss Sir Alex Ferguson famously revelled in having "knocked Liverpool off their perch".
The Reds have come close during that time to restoring themselves to the top of the English game, finishing second in the Premier League on four occasions.
Gerard Houllier (2001-02) and Rafael Benitez (2008-09) both took them close.
Famously, in the 2013-14 season, Brendan Rodgers' side looked as though they were going to take the crown but a late-season slump - synonymous with a Steven Gerrard slip that enabled Chelsea to score and win at Anfield - saw them fall agonisingly short.
Last season, they racked up a stunning 97 points, losing only one game all campaign, but had the misfortune of coming up against an even better Manchester City side, who beat them to the title by a point. No side had ever achieved so many points without winning the league.
Klopp takes Reds from 10th to title
The appointment of Klopp has been pivotal to Liverpool's rise in recent seasons to this moment of success.
The German arrived at Anfield in October 2015 following the sacking of Rodgers and with the club 10th in the Premier League.
He arrived with a record of success, having led Borussia Dortmund to two Bundesliga titles and the 2013 Champions League final, and with a reputation for fast-paced, high-pressing attacking play, which he described as "heavy metal football".
The club has not only seen an improvement in their style of play but also their results, with his four full seasons to date yielding finishing positions of fourth, fourth, second and now first.
Intelligent dealing in the transfer market has also been key to his success, with Mohamed Salah and Sadio Mane signed during his reign. Along with Roberto Firmino, who arrived shortly before Klopp, the trio have scored a sensational 211 goals in less than three seasons (92 for Salah, 65 for Mane and 54 for Firmino).
The additions of world-class goalkeeper Alisson and centre-back Virgil van Dijk were also crucial.
Klopp has also improved players who were at the club before he arrived, including midfielder Jordan Henderson - his captain - and young full-back Trent Alexander-Arnold.
The German is the only Reds manager since Dalglish left (including the Scot himself during a second spell from January 2011 to May 2012) with a win percentage over 60.
Dalglish delivered Liverpool their 16th, 17th and 18th league titles and now, after 30 years, the Reds have found a fitting successor to provide them with their 19th.
"The last two years and since Jurgen's come in has been very positive," Dalglish told BT Sport. "He's been fantastic and epitomises everything Liverpool football club stands for. Whatever they got, they have deserved it.
"Onwards and upwards. We have a lot more happy days to look forward to as long as Jurgen is here."
...
Ruling Mongolian People's Party wins landslide election www.reuters.com
ULAANBAATAR (Reuters) - The ruling Mongolian People’s Party (MPP) will remain in power after a landslide general election victory secured 62 out of the 76 seats in the State Great Khural, the country’s parliament, according to results released overnight.
Incumbent Prime Minister Khurelsukh Ukhnaa will lead the next government, the 17th since Mongolia’s democratic revolution put an end to Communist rule in 1990.
The opposition Democrats are set to take 11 seats, a small improvement from the nine secured in 2016. Turnout stood at 73%, though some polling stations were cut off as a result of heavy rainstorms.
Mongolia is a parliamentary democracy, with the party with the most seats entitled to form a government and choose the prime minister. However, it also elects a president who can veto government legislation.
The MPP is descended from the Mongolian People’s Revolutionary Party, which ran the country during its Communist era from 1921 to 1990.
According to a survey published in May by the Sant Maral Foundation, a Mongolian polling group, unemployment and widening income disparities were the biggest concerns ahead of the election, with the country struggling to figure out how to share its vast mineral wealth.
But the poll showed strong public support for the government’s handling of the coronavirus, with 49% of people polled saying it was their biggest success.
Mongolia shut its borders early, closed schools and universities and restricted transportation routes from its capital Ulaanbaatar to other regions. It has so far seen a total of 215 coronavirus cases, with no deaths.
Boldsaikhan Sambuu, a political scientist with the Zorig Foundation, a Mongolian think tank, said the MPP benefited from its handling of COVID-19 and its strong leadership.
But its victory could also be attributed to the first-past-the-post electoral system, which gave it a vast majority of seats with 40% of the total vote, he said.
Reporting by Anand Tumurtogoo in Ulaanbaatar, Writing by David Stanway in Shanghai; Editing by Michael Perry

Mongolia’s 2020 parliamentary election: Preliminary results and voter turnout www.montsame.mn
Ulaanbaatar /MONTSAME/. The polls have closed across Mongolia in the 2020 parliamentary election. The results are being updated at this moment as ballots being counted at the 2070 polling places throughout the country following the closure of the polls where Mongolians voted to elect a new parliament with 76-seats.
As of 12:30 AM, June 25, the ruling party of the current parliament - Mongolian People’s Party has won 63 seats or gained around 82 percent of total votes, with the current opposing party – Democratic Party gained 10 seats or around 14 percent of all votes cast.
The three remaining seats each has gone to an independent candidate N.Altankhuyag, former Prime Minister of Mongolia and former leader of the Democratic Party; S.Ganbaatar from 'Our Coalition' /Mongolian People’s Revolutionary Party, Civil Will, Green Party, Mongolian Traditionally United Party/; and T.Dorjkhand from 'Right Person Electorate Coalition' /National Labor Party, Mongolian Social Democratic Party, Justice Party.
This is only preliminary results and the General Election Commission will announce the official final results by June 25 afternoon.
Voter turnout was reported to be at 73.64 percent on the national level. Specifically, out of 2,003,969 voters on the national electoral register, 1,476,475 have cast their votes.

Landslide Victory for Mongolia’s ruling party! www.news.mn
The official results of Wednesday’s Mongolia parliamentary election have been announced: The Mongolian People’s Party, which is the country’s ruling party, has won 62 seats in a landslide victory, while the once formidable opposition Democratic Party won a meagre 11 seats; the Right Person Electorate Coalition and Our Coalition, which is run by former President N.Enkhbayar, each took one seat respectively. Out of a record 121 independent candidates Mr. N.Altankhuyag won a seat in the Among Democratic Party’s winners, J.Erdenebat who was recently imprisoned in the 461st detention centre pending trial in a highly controversial case, also won a seat in the State Great Khural.
Election rules have been revised this year to allow two to three members of parliament to be elected from a single district, resulting in over 600 candidates running in 29 constituencies.
Mongolia is the second country after South Korea to hold national elections during the coronavirus pandemic. The parliamentary elections are the country’s eighth since it adopted a new constitution in 1992 at the end of more than 60 years of Communist rule.
The Mongolian People’s Party won 65 seats of the 76-seat State Great Khural in a landslide victory in 2016.
The opposition Democratic Party (DP) hit a six-year low in its popularity among voters dropping below 30% for the first time since 2013. The DP currently lacks an energetic leader similar to the MPP. Other smaller political parties of Mongolia stood little chance this election.

EU considers barring Americans from travel list www.bbc.com
EU ambassadors are to continue talks on Friday to plan reopening external borders on 1 July, and travellers from the US could be among those not allowed in.
Some European countries are keen to open up to tourists but others are wary of the continued spread of the virus.
On Wednesday US Secretary of State Mike Pompeo said he expected a solution "in the coming weeks".
The virus is spreading in the US, so it is likely Americans would be barred.
The 27-member bloc must first agree the measures that non-EU countries should meet before deciding on a safe list.
Brazil, Russia and other countries with high infection rates would also be left off a safe list, according to reports from Brussels.
The EU is not yet thought to have agreed how they will assess which countries meet health standards - one of the criteria for entry. Part of the problem is assessing reliable health data, reports say.
What did Pompeo say?
Travel has largely been banned between the US and EU during the pandemic, but Mr Pompeo said he was "very confident" a solution could be found.
"We certainly don't want to reopen in a way that jeopardises the United States from people travelling here and we certainly don't want to cause problems anyplace else," he said.
He did not give details, but added that the US was working "to get the global travel back in place".
Comparing infection rates with other countries
Latest figures from the EU's health agency, the European Centre for Disease Prevention and Control, highlight Brazil, Peru, Chile, Panama and Saudi Arabia as countries with the highest "case notification rate".
Russia and the US have a lower rate of cases per 100,000 inhabitants but are still higher than most of Europe. The US has seen 2.3 million infections and 120,000 deaths and cases are climbing in several states.
Top health officials warn of 'disturbing' new US surge
The European Commission is advising ambassadors only to consider countries that are comparable or better than the EU average when it comes to new infections, the trend in new infections, as well as testing and tracing.
Reports said member states were assessing two different lists. The Politico website said one covered countries with fewer than 16 cases per 100,000 people and the other with up to 20 cases, which would include Canada and Turkey. The New York Times said the list would be revised every two weeks, so the US could be added later.
Other criteria also being considered are reciprocity and links to the EU. France wants the EU to give access only when it is reciprocated by other countries, while Spain is said to be keen to reopen the border with neighbouring Morocco.
Earlier this month the European Commission also stressed that reopening borders with non-EU states in the Western Balkans was a priority from 1 July. However, EU member Croatia announced on Wednesday that travellers from Bosnia, Serbia, Kosovo and North Macedonia would all face 14-day self-isolation from the end of the day, because of an increase in infections.
The US may also be a problem diplomatically, as on 14 March President Donald Trump unilaterally closed US borders to countries in the EU's Schengen border-free zone. The EU condemned the move at the time.
Why this is a fraught decision for EU countries
Which countries' travellers are allowed in, and which are not?
At first this may seem a practical decision for the EU: if a country outside the EU and Schengen area has high rates of infection, its citizens won't be allowed in to the bloc.
If infection rates are similar to or lower than the EU average, then willkommen, bienvenue, welcome!
Except it's not that simple.
Producing a list of outside countries "acceptable" for EU travel is also a political - and economic - decision.
Tourists bring much-needed revenue to Covid-19-ravaged economies, of course. But EU leaders are not keen to take risks. Even countries wanting an economic boost are aware the political backlash would be huge if tourists bring Covid-19 with them.
And, as is so often the case, opinion between the EU's 27 countries is divided.
Some worry that barring a particular country over Covid-19 could cause political friction with allies or worsen existing tensions. EU relations with Washington and with Moscow are already delicate, shall we say.
Then there's the issue of reciprocity.
France is particularly attached to this. In other words, if a country bars entry to tourists from an EU or Schengen nation, then that country should be allowed to return the "favour", thinks Paris. Also, if a non-EU country grants access to EU visitors, should the EU be diplomatically obliged to respond in kind?
I'm told the list of outside countries whose citizens will have access to EU/Schengen as of 1 July is likely to be "small" to start with.
Discussions between member states' ambassadors to Brussels are due to continue on Friday, with an outcome to be decided unanimously on Friday or "shortly after".
Can Europe save its tourist season?
The EU is split into two groups that include those hoping to salvage something from this year's summer tourist season and those that fear for the health situation.
Although the EU urged the 27 member states to reopen internal borders from 15 June, several countries have moved carefully to avoid a second spike in infections.
Denmark, which was among the first European countries to start lifting its lockdown, has begun reopening its borders more slowly than others. Denmark is a Schengen state but it still has strict criteria for those visiting the country.
Island isolation over as Greece lets tourists back
Tourists were allowed to return from mid-June from Norway, Iceland and Germany, but not from neighbouring Sweden.
Greece, meanwhile, opened its borders to much of Europe on 15 June in a bid to kick-start its tourist season. Visitors from some countries including Spain, Sweden and the Netherlands face compulsory testing for Covid-19.
...
Mongolian soldiers march in Victory Day Parade in Moscow www.montsame.mn
Military contingent of 78 servicemen of the Mongolian Armed Forces headed by Colonel B.Khash-Erdene participated in the Victory Day Parade in Moscow city today, June 24, commemorating the 75th anniversary of the victory in the Great Patriotic War.
During the parade, the announcer read "Mongolia was a reliable partner of our country since the first day of war."
The Mongolians soldiers, who went to Moscow city of Russia by Il-76 aircraft of aerospace of the Russian Federation on June 14 and had been rehearsing for the parade since, will return home tomorrow on a charter flight.

Mongolia's ruling party wins landslide parliamentary election www.channelnewsasia.com
ULAANBAATAR: Mongolia's ruling party won a landslide election victory to retain an overwhelming majority in parliament - a reward from voters who approved of its handling of the coronavirus pandemic, according to near-complete results on Thursday (Jun 25).
The Mongolian People's Party of Prime Minister Khurelsukh Ukhnaa now faces the task of keeping the economy afloat as businesses struggle under virus containment measures and closed borders.
The MPP will have 63 of 76 seats in the legislature, two fewer than before but still a huge majority to rule the landlocked country of three million people squeezed between Russia and China.
The opposition Democratic Party won 10 seats, according to 99 per cent of votes counted following Wednesday's vote.
An independent and candidates from two new third parties won the remaining seats. The Election Commission will confirm the results later on Thursday.
"Voters did obviously reward the handling of the corona crisis by the Mongolian government and put their trust in the leadership of Prime Minister Khurelsukh," Niels Hegewisch, country director of Friedrich-Ebert-Stiftung, a German non-profit foundation, told AFP.
"Certainly, a victory of this magnitude comes with a great responsibility. Economically, Mongolia is facing tough times," he said.
Despite its mineral wealth, the country's economy has been weak and required a US$5.5 billion bailout from the International Monetary Fund in 2017.
The pandemic has not helped, with cafes, restaurants and pubs ailing as the government imposed early closing times as part of coronavirus measures. Schools have been closed since January.
Coal exports have fallen due to lower demand and prices, and border closures. They were down by more than half to 6.2 million tons in the first five months of the year compared to the same period in 2019.
A number of corruption scandals have also erupted in recent years and there is growing anxiety about graft in the young democracy, which ended decades as a Soviet satellite in 1990.
Despite calls by some for the election to be delayed due to the pandemic, three-quarters of two million eligible voters cast their ballots.
Voters queued two metres apart to enter, with medical staff checking temperatures, passing out hand disinfectant and masks, and providing single-use plastic gloves to fill out ballot papers.
"I think it's good to organise our election as planned even though there is a pandemic," said Amarzaya Enkhbayar, a 35-year-old voter who runs her own business.
"These elected decision-makers must improve our life. We have to do something for the development of our country," she told AFP after voting in Ulaanbaatar.
About 8,000 Mongolians are currently stranded abroad and protests inside the country calling for their return have been broken up by authorities on the grounds that they break social distancing rules.
There have only been about 200 reported coronavirus cases in Mongolia - most imported from Russia - and no confirmed fatalities.
"I thought the election should be delayed," argued another voter, 39-year-old Enkhtsetseg Bandi.
"However, the state is spending billions to organise this election, so I must participate not to waste our budget."
The country's two main political parties broke bans on gatherings of more than 30 people by holding big campaign rallies and ignoring social distancing rules.
There were a record 606 candidates, including 121 independents. But voters chose the ruling party.
Gerelt-Od Erdenebileg, professor of political science at the Mongolian State University of Education, said the country's majoritarian system favours the big parties.
"If we keep this system, the MPP will win forever," he said.
Munkhzaya Ankhbaatar, a 19-year-old car parts salesman, said he had done his homework on the candidates before voting.
"I studied all the parties' agenda," he said. "I like the MPP most, so I voted for it."
Source: AFP
...
255 Mongolians return from the United States www.montsame.mn
A charter flight, bringing 255 Mongolian nationals from the United States, has landed today, June 24, at 10:45 am at Chinggis Khaan International Airport in Ulaanbaatar.
Among the passengers, there are 4 people with disabilities, 17 students, 15 older people, 26 people with health concerns, 103 family members with small children, 3 pregnant women and 98 citizens with other reasonable excuses. The citizens arrived on the flight will be put into 21-day mandatory isolation at the National Center for Communicable Diseases, the Military Central Hospital, “Bagabayan” sanatorium and “Toyoko Inn” and “Erkhes” hotels.
Incidentally, the charter flight of the MIAT Mongolian Airlines has carried donation of the Government of Mongolia worth USD 1 million to the Government of the United States and its people to Seattle city. This was the first-ever direct passenger flight of Mongolia to the USA.
On the way back, the airplane carried onboard Mongolian citizens stranded in the U.S. and another set of stolen dinosaur fossils.

Newly Licensed Activities Of Real Estate Brokerage In Mongolia www.mondaq.com
REAL ESTATE BROKERAGE ACTIVITIES AS NON-FINANCIAL BUSINESS AND PROFESSIONAL SERVICE PROVIDER SHALL BE CONSIDERED AS LICENSED ACTIVITY in accordance with framework of improving policies, strategies and regulations to combat money laundering and terrorist financing. Accordingly, Financial Regulatory Commission (the FRC) of Mongolia approved "Procedure for Licensing, Permitting, Authorization and Registration of a real estate brokerage company" (the Procedure) by the resolution No 120, dating 11, March 2020.
The license for conducting real estate brokerage activity shall be issued for a permanent period. The following activities shall be conducted within the license:
Brokerage of sale, purchase and transfer of real estate and the relevant claims;
Brokerage of leasing and renting of real estate and the relevant claims.
In addition to these activities, the company that has the license may conduct following activities upon registering at the FRC:
Real estate management service;
Sales of real estate upon purchasing and repairing;
Other services considered to be real estate brokerage activity by the FRC.
I. An applicant shall meet the following requirements to obtain a license for real estate brokerage activity:
The share capital must be at least 15,000,000 (fifteen million) MNT;
The share capital must be funded by monetary asset that is generated from lawful-sourceof-income. The share capital must not be financed by credit;
To have at least one broker experienced as a real estate brokerage agent for at least 2 years and responsible for brokerage of sale, purchase and transfer of real estate and the relevant claims;
To have more than one agent that is responsible for brokerage of sale, purchase and transfer of real estate and the relevant claims;
The broker and the agent shall have obtained a certification that shows their participation in a training organized under a program approved by the FRC and taken the relevant examination (A certification of broker and agent that shows the participation in relevant to real estate brokerage training within 1, June 2020 shall be accepted);
Governing body, shareholder and broker of the company shall meet the following criteria of "Eligible person":
To have appropriate education and work experience;
To have completed higher or secondary education;
To have completed a training approved by the FRC and obtained a certification.
Not to have involved in crime;
No criminal charges or penalties in connection with crimes and violations of money laundering, terrorism financing, bribery, corruption or fraud under the Criminal Code;
Not a suspect of money laundering, terrorism financing or corruption under the Criminal Code at the stage of lawsuit and investigation.
To have an ethical reputation;
Not have been imposed of disciplinary sanction of dismissal due to one's wrongful actions and violation of industry code of ethics within the last one year;
Not to be a convict of complaint in connection with financial and non-financial services and activities;
Not to have violated the industry code of ethics within the last one year;
Not to have violated any laws, regulations, business ethics and codes in Mongolia or abroad, or not to have supported one to do so;
To be available to conform with any requirements under any regulations, or professional and ethical standards of Mongolia or abroad.
To be free from conflict of interest;
Not to have contradicted with article 20, 21, and 22 of the Law on Regulation of Public and Private Interests in Public Service and Prevention of Conflict of Interest;
Not to have contradicted with a special law regulating activities related to financial services specified in article 3.1 of the Law on the Legal Status of the Financial Regulatory Commission.
Others provided by law.
To have appointed a person to supervise the compliance of the Law on Combating of Money Laundering and Terrorism Financing;
To have a workplace, facility, hardware, and software to conduct real estate brokerage activities;
To have adopted an internal procedure for real estate brokerage activities, ethic code of employees, and adopted internal control and risk management program stipulated in the Law on Combating of Money Laundering and Terrorism Financing;
To have adopted business plan.
For foreign invested real estate brokerage company, following shall be required in addition to the requirements above and the requirements stipulated in the Law of Mongolia on Investment:
Investor shall have obtained information, statement, and reference about his/her source of its monetary investment and activities from relevant State Authority or any Law Enforcement Agency, and Banking and Financial Institutions of the country of origin;
Investor shall have delivered information on the amount and origin of the monetary investment to Financial Information Unit of Mongolia.

ADB Project Expands Food Stamps and Cash Grants for Poor and Vulnerable in Mongolia www.adb.org
The Asian Development Bank (ADB) has approved a $26.4 million loan to lessen the socioeconomic impacts of the coronavirus disease (COVID-19) pandemic on poor and vulnerable groups in Mongolia, especially women and children.
“The loss of jobs and income in the wake of COVID-19 coupled with rising food prices will particularly affect poor and vulnerable people,” says ADB Principal Social Sector Specialist Karin Schelzig. “The Shock-Responsive Social Protection Project will expand food support and cash transfers on a temporary basis, utilizing the targeting and delivery systems of two established social assistance programs.”
Mongolia’s early and robust response to contain the spread of COVID-19 has helped keep the number of cases relatively low, but the health risk-level remains high, and the curtailment of economic activity has affected many parts of the economy. ADB estimates show that Mongolia will suffer significant investment and consumption shocks in addition to negative global demand spillovers in 2020.
The pre-crisis poverty rate in Mongolia was 28.4%. A significant share of Mongolians who are technically non-poor live precariously close to the poverty line.
To counter the negative impacts of the pandemic, on 27 March the government launched a countercyclical development expenditure program, which includes temporary increases in child money program benefits. On 6 May the government announced further social assistance measures including expanding the food stamp program.
The project will finance the temporary increase in the monthly benefit levels for all child money program and food stamp program beneficiaries through September 2020. The child money program reaches more than 1 million Mongolian children with electronic transfers. Food stamps are cash-like benefits that are delivered either as electronic payments to e-cards or as physical vouchers in more remote areas. Food stamps can be used to purchase 10 staple food items, including milk and vegetables.
Food stamps benefit 240,500 Mongolians, among them more than 118,000 children. Women and girls comprise 53% of the recipients. The program reaches 44,325 families (the poorest 5%).
The project is a key part of ADB’s package of support to mitigate the impact of COVID-19 in Mongolia. This assistance has included grants to purchase emergency medical equipment and supplies, short and medium-term responses such as a $40 million loan to support health security, a $24 million reallocation to support small- and medium-sized enterprises, and a $100 million countercyclical support program.
Total project cost is $270.79 million, of which $239.39 will be provided by the Government of Mongolia. The World Bank will also provide loan cofinancing of $5 million for the expansion of the child money program benefits.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
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