Draft Law on Ratifying the Loan Agreement between Mongolia and IBRD Submitted to Speaker of Parliament www.montsame.mn

On May 16, 2025, Minister of Finance of Mongolia Javkhlan Bold submitted the draft Law on Ratifying the Loan Agreement between Mongolia and the International Bank for Reconstruction and Development to Chairman of the State Great Khural Amarbayasgalan Dashzegve.
If the draft Law is adopted, funding from the Loan Agreement will be channeled to the “Energy-3 Project,” which aims at upgrading the Baganuur–Choir 110 kV overhead transmission line to a 220 kV double-circuit line and expanding the Baganuur and Choir substations.
Finance Minister Javkhlan Bold highlighted that the Project is vital for meeting the rapidly growing demand for reliable, stable electricity.

Mongolian banking sector's net foreign assets decline 49.9 pct in April www.xinhuanet.com

The Mongolian banking sector's net foreign assets declined by 49.9 percent year-on-year to reach 4.9 trillion Mongolian tugriks (1.37 billion U.S. dollars), local media reported on Monday, citing data from the National Statistics Office (NSO).
During the period, the net domestic assets of Mongolia's banks reached 36.6 trillion tugriks (10.24 billion dollars), which represents an increase of 29.1 percent compared to the same period of 2024.
Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 21.9 trillion tugriks (6.12 billion dollars) by the end of April 2025.
It is noted that the dollar savings experienced a substantial uptick, surging by 20.1 percent, while Mongolian tugrik savings exhibited a more modest increase of 17.5 percent.
Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia.

Bank of Mongolia Ends 5-Year Losses with 2024 Profit www.insidemongolia.mn

Mongolia launches 5G Nationwide www.insidemongolia.com

Mongolia has officially launched its 5G network, marking a major step forward in the country’s digital transformation. Licenses for 5G deployment have been granted to the 5 major telecom operators, Unitel, Mobicom, Skytel, GMobile, and ONDO.
🚶 Unitel Leads the Way
Mongolians first experienced 5G in 2022 when Unitel introduced the country’s very first 5G pilot site in Ulaanbaatar. A year later, the company expanded its efforts by rolling out pilot networks across all 21 provincial centers, laying the groundwork for today’s full-scale nationwide launch. Today, Unitel remains one of the country’s most extensive network operators, with an average of 79% of the population across the 21 provinces using its services in some form.
📃 A Vision for the Future: As the leading player in Mongolia’s 5G expansion, the CEO of Unitel Group said, “This launch marks the beginning of a new business ecosystem. 5G isn’t just about speed. It offers low-latency and high-capacity connectivity that opens new opportunities in manufacturing, logistics, healthcare, and education. It enables innovation, reduces costs, and supports broader economic growth.”
 ✅ Target for 2027
With this rollout, Mongolians now join over 2 billion people worldwide who have access to 5G services. As the technology becomes a key driver of innovation, Mongolia aims to achieve 5G coverage for 70% of its population by 2027.
🤲 5G technology promises dramatically faster speeds, lower latency, and greater reliability compared to previous generations. It is expected to revolutionize sectors such as healthcare, education, logistics, and manufacturing by enabling advanced technologies like artificial intelligence, automation, the Internet of Things (IoT), and remote operations.
Overall... Although Mongolia may be a latecomer to 5G compared to more developed nations, the opportunities and advancements following the rollout of this next-generation network promise significant progress and transformation ahead. With this milestone, Mongolia positions itself not just as a technology adopter but as a future-ready, connected nation prepared to harness the full potential of the digital age.

Mongolian Mountaineers Battogtokh Altangerel and Batkhishig Baldorj Triumphantly Summit Mount Everest www.montsame.mn

Mongolian mountaineers, International Masters of Sport Battogtokh Altangerel and Batkhishig Baldorj, began their ascent of Mount Everest, which is regarded as the highest point on Earth at 8,848 meters above sea level, last week and successfully reached the summit on May 18, 2025.
With this achievement, Battogtokh and Batkhishig became the 15th and 16th Mongolians to summit Everest’s peak. The duo climbed from the Nepalese side, with their expedition lasting about half a month, and the decisive summit push was made last week. A Mongolian mountaineer first set foot on Everest twenty years ago, and since 2022, Mongolian climbers have successfully reached the summit every year.
Meanwhile, International Master of Sport Ariunzul Chuluunbaatar is currently on Everest and is scheduled to make her decisive summit attempt tonight, May 19, 2025.

Mongolian FM to visit PH for bilateral meeting on Monday www.mb.com.ph

Mongolian Foreign Minister Battsetseg Batmunkh will be in the Philippines from May 19 to 20 for an official visit, the Department of Foreign Affairs (DFA) said.
Foreign Minister Battsetseg Batmunkh of Mongolia (Photo from Ministry of Foreign Affairs of Mongolia)
In a statement on Sunday, May 18, the DFA shared that Foreign Affairs Secretary Enrique Manalo and Battsetseg will hold a bilateral meeting to assess Philippines-Mongolia relations “and to chart ways forward to further enhance the two countries’ diplomatic relations, which have entered their sixth decade.”
Aside from bilateral ties, the two officials are also expected to “discuss strategic issues of mutual concern.”
Also part of Battsetseg’s itinerary are the courtesy calls to President Marcos and Senate President Francis Escudero.
An announcement about the foreign minister’s visit to Manila was also posted on the X (formerly Twitter) account of Mongolia’s Ministry of Foreign Affairs (MFA).
In 2023, the two nations commemorated the golden anniversary of the establishment of their bilateral relations.
Battsetseg’s visit was made possible by an invitation from Manalo, who visited Mongolia’s capital city of Ulaanbaatar last August 2024.
Similar to how Manalo was the first foreign secretary from the Philippines to travel to Mongolia in an official capacity, Battsetseg’s visit this week will also mark the first official visit of a Mongolian foreign minister to the Philippines since 1984.
In October 2024, Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan visited the Philippines, recommending available facilities so Philippine companies can penetrate into the Central Asian market.
Potential areas for collaboration include investments promotion, agriculture, minerals, infrastructure development, and renewable energy, among others.

Mongolia's GDP up 2.4 pct in Q1 www.xinhuanet.com

Mongolia's gross domestic product (GDP) grew 2.4 percent year on year in the first quarter of 2025, official data released by the country's National Statistics Office (NSO) showed Saturday.
The Asian country's GDP totaled 19 trillion Mongolian tugriks (5.3 billion U.S. dollars) in the January-March period, and the growth was mainly attributed to good performance in the agricultural, services and mining sectors, the NSO said.
The landlocked country's economy grew 4.9 percent in 2024, according to the statistical agency.
Meanwhile, the Asian Development Bank (ADB) has predicted that Mongolia's economy would grow by 6.6 percent in 2025 and 5.9 percent in 2026.
According to the ADB, economic growth in Mongolia will be mainly driven by increased mining output and services and supported by robust domestic demand, infrastructure investment, and a gradual recovery in agriculture

EBRD and EU step up support for MSMEs in Central Asia and Mongolia www.ebrd.com

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are boosting access to finance for micro, small and medium-sized enterprises (MSMEs) in Central Asia and Mongolia.
An additional €25 million in EU guarantees will be made available to local partner financial institutions for on-lending to this business segment. This marks an expansion of the existing Growth4All guarantees to a region where MSMEs form the backbone of the economy but often struggle to obtain finance to grow their business. The comprehensive package is expected to support the supply and demand of MSME financing by reducing associated risks and encouraging financial intermediaries to direct new lending to businesses that need it the most. It is expected to benefit around 3,500 businesses across the Kyrgyz Republic, Kazakhstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan
The EU is providing the guarantees through its European Fund for Sustainable Development Plus (EFSD+), which supports financing and investment operations in partner countries outside Europe, in line with the EU’s Global Gateway investment strategy.
EBRD President Odile Renaud-Basso said: “We are very proud to support micro, small and medium-sized enterprises through this guarantee, which is now also available in Central Asia and Mongolia. This is yet another strong example of how our cooperation with the European Union as our key partner responds to the everyday needs of businesses in the region, while at the same time underlining our determination to support strong, resilient and inclusive businesses.
European Commissioner for Economy and Productivity; Implementation and Simplification Valdis Dombrovskis said: “This agreement will see the EU partner with the EBRD to provide an additional €25 million in guarantees under the Growth4All initiative, expanding access to finance for micro, small, and medium-sized enterprises in Central Asia and Mongolia. As the backbone of these countries' economies, facilitating their access to finance will help create new jobs and opportunities, driving inclusive and resilient economic growth. This partnership demonstrates the EU's commitment to building and deepening mutually beneficial relationships worldwide, aligning with the EU's Global Gateway investment strategy.”

ADB, Ulaanbaatar Flour Partner to Support Wheat Supply Chain in Mongolia www.adb.org

The Asian Development Bank (ADB) and Ulaanbaatar Flour Limited Liability Company (UBF) today signed a 3-year $10 million loan to support local wheat procurement to meet the increasing demand for domestically processed wheat flour in Mongolia. This financing will provide UBF with working capital to purchase wheat from local farmers.
“Wheat flour is a key staple for Mongolian families, representing about one-third of their daily caloric intake. However, local wheat production faces challenges due to a single harvest season and vulnerability to climate events,” said ADB Country Director for Mongolia Shannon Cowlin. “This project will help stabilize the wheat supply chain by supporting UBF’s procurement from local farmers, especially women, and will contribute to a more resilient and inclusive agriculture sector. It will also enhance Mongolia’s food sustainability and reduce reliance on imports.”
The project will facilitate consistent wheat procurement and provide a stable buyer for 250 wheat farming enterprises, including smallholder and women-led farms. UBF will also integrate the needs of women suppliers into its procurement policies and disseminate awareness raising materials that encourage the redistribution of unpaid care work and support prevention and response to domestic violence within farming communities.
“We are proud to continue our partnership with ADB to strengthen Mongolia’s wheat value chain and support local farmers,” said the CEO of Ulaanbaatar Flour LLC Bakhatguli Nuktarkhaan. “This financing is critical to ensuring a reliable supply of quality wheat for our operations while empowering smallholder and women-led farms. Through this collaboration, we aim to improve food security, promote inclusive growth in rural communities, and build resilience against climate impacts.”
Additionally, a $500,000 technical assistance grant will be provided to enhance the resilience of wheat farmers through training programs in financial literacy, sustainable food security, and climate-adaptive agricultural practices. These practices will include effective soil, water, and pest management.
Regional food security is a priority for ADB, which has recently increased its support for long-term food and nutrition in Asia and the Pacific by $26 billion. This brings ADB’s total funding commitment for food security initiatives to $40 billion for the period of 2022 to 2030. Direct support for farmers and the agriculture value chain is essential, and the expanded commitment includes $11 billion allocated for private sector investments. This financial package with UBF provides direct support to Mongolia’s agrifood private sector.
ADB and UBF, Mongolia’s leading wheat flour processor with a 30% market share, has a long-standing partnership. UBF is part of the Tavan Bogd Group, one of the country’s largest and most diversified business groups. This loan marks ADB’s fourth transaction with Tavan Bogd Group and third with UBF.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.

Mineral and Coal Export Capacity of the Gashuusukhait Border-Port Triples www.montsame.mn