H.Amartuvshin: We are working to improve loan portfolio quality at first www.montsame.com

Ulaanbaatar /MONTSAME/ On July 4, Chief Executive Officer a.i. of the Development Bank of Mongolia (DBM) H.Amartuvshin and First Deputy Chief Executive Officer Ch.Enkhbat held a briefing about the bank’s operation.

Mr.Amartuvshin said, “Today, there are three major issues in our bank. Those are the issues of solving the repayment of non-performing loans detected during the government’s inspection; making changes to the bank’s requirements for investments, projects; and programs; and improving loan portfolio quality.”

At the beginning of the briefing, he gave information on DBM’s financial performance. As of the first half of 2019, the bank’s overall assets amounted to about MNT 4 trillion and 244 billion, loan portfolio to MNT 2 trillion and 577 billion, risk funds to MNT 336 billion, and non-performing loans to MNT 292 billion.

Mentioning that an increase of non-performing loans of entities which were found by the inspection is causing the bank’s operation to stall, he said, “One of the nonperforming borrowers, Erel Group got a loan worth MNT 132 billion, but has not paid back since 2015. A joint working group of the government and DBM is working to resolve the repayment issues. A discussion is underway to establish a joint state owned company in charge of this task. However, a final decision has not been made and a study is also being carried out to find out whether it is necessary or not. In case a company is not established, the issue will be brought to court.”

Personnel in charge of non-performing and problem loans to be increased

With Mon Laa company, another nonperforming borrower which has an unpaid loan of 8 billion, a settlement contract has been made to pay off the debt within this year and the repayments are being made. As for Khutul company, its plant has been officially transferred to the State Commission and actions are underway to seize it as a collateral of the DBM. The issue will also go through court if the task stalls.

He then introduced the bank’s internal policy such as the changes in loan management regulations. Special structure and personnel of the asset unit responsible for nonperforming loans are to be settled in the near future. Personnel in charge of problem loans will also be increased. Lastly, he informed that the bank’s legal and policy requirements for investments, projects, and programs are also undergoing a change.

Loan amount will not exceed 85 percent of the project value

Mr.Amartuvshin said, “There appears to be a misunderstanding that DBM’s loan cannot be paid. We will clear this up.” “As the tax payers’ money finances the bank’s loans, we will compel them to repay at all costs”, he said.

As for our requirements, firstly, we will support projects and programs that promote export and boost export revenues. We will assist those compliant with the government’s mid- and long-term development policies. Of course, the projects shall be beneficial to the economy. The borrower shall have many years of experience in that particular sector.

As for the policy requirements, loans of above MNT 20 billion will be given directly by DBM and the ones below the amount will be granted through commercial banks.

The maximum amount of loan shall be within 85 percent of the project cost for legal entities other than state owned enterprises. Those who filed false documents or have problem loans in other banks are being blacklisted.

In conclusion, Mr.Amartuvshin said, “We will provide support for projects and programs on energy, agriculture, and non-mining exports. It goes without saying that those against air and soil pollution will receive support too.”

IDF officers train UN peacekeepers in medical care in Mongolia exercise www.timesofisrael.com

A pair of Israeli medical officers took part in a two-week exercise in Mongolia last month, training United Nations peacekeepers from around the world, including countries with which Israel does not have diplomatic ties, in basic first aid and combat medicine.

Over 35 countries participated in the 17th annual Khaan Quest exercise outside the Mongolian capital of Ulaanbaatar. This was Israel’s first time taking part in the event.

The exercise was made up of 12 stations in which UN peacekeeping troops learned everything from crowd control to mine-clearing and how to set up a checkpoint.

Maj. Roy Stern and Cpt. Dr. Kobi Weissmehl from the Israel Defense Forces worked alongside the United States’ Alaska Army National Guard and the Mongolian Armed Forces at the medical care station.

IDF Maj. Roy Stern trains United Nations peacekeepers during the Khaan Quest exercise in Mongolia in June 2019. (Israel Defense Forces)
“This was an extension of Israel’s humanitarian efforts over the years,” Stern, the head of medical training at the IDF’s Tzeelim base, told The Times of Israel.

The IDF has garnered an international reputation for its responses to natural disasters around the world, dispatching medical and search-and-rescue teams within days, sometimes hours, of an earthquake, tsunami or similar large-scale tragedy. IDF field hospitals also received top ranks by the World Health Organization in 2016, making Israel the first country in the world to earn such a designation.

“Israel has a lot of experience in this field. We’ve done a lot in medicine and in humanitarian missions,” said Weissmehl, the chief medical officer for the Armored Corps’ 460th Brigade.

Stern, a 39-year-old father of three, said he and Weissmehl worked to bring all of the UN peacekeeping troops who took part in the exercise up to the same level in terms of medical training, as they came with varying degrees of experience.

They taught the recruits how to use tourniquets and bandages to stop bleeding, how to safely load someone onto a stretcher and move them, and numerous other aspects of combat medicine and first aid.

“We gave them basic, important tools to treat casualties,” Stern said.

Stern said they also tried to learn from the peacekeepers who participated in the exercise, asking them to demonstrate their military’s first aid methods.

“How we do it is good, but how they do it is no less good,” he said.

Stern said some of the UN peacekeepers had previously served on missions along Israel’s borders with Lebanon and Syria or were due to be stationed there shortly, notably the delegation from Fiji.

Weissmehl, 30, noted that besides the professional aspects of the exercise, Khaan Quest also gave him and Stern the opportunity to interact with and befriend military officials from around the world.

“It is an incredible feeling to make friends from Fiji, New Zealand, China,” he said.

Most of the countries that participated in the exercise maintain diplomatic ties with Israel, but not all.

Qatar, which often works closely with Israeli officials on issues related to the Gaza Strip but does not have formal relations with Jerusalem, took part in Khaan Quest, as did Malaysia, which often refuses to allow Israeli athletes to compete in tournaments held in the country.

Stern said they could not comment on any interactions they may have had with representatives from these countries.

In addition to the casual interactions, the organizers of the exercise — from the Mongolian and US militaries — also staged cultural events in which countries with larger delegations demonstrated traditional dances, songs and practices, Weissmehl said.

As there were only two of them, the Israeli delegation did not make such a presentation.

Mitsubishi Corporation participates in new airport operation project in Mongolia www.avitrader.com

Mitsubishi Corporation (MC), Narita International Airport Corporation (NAA), Japan Airport Terminal Co., (JATCO), and JALUX Inc. (JALUX) have established a joint venture with the Government of Mongolia: New Ulaanbaatar International Airport (NUBIA). NUBIA has entered into a 15-year concession agreement with the National Development Agency of Mongolia concerning the operation of the New Ulaanbaatar International Airport, which is expected to open in the first half of 2020 upon completion of pre-operation work and relocation from the existing airport.

Mongolia, South Korea sign soft loan agreement for $19 million www.akipress.com

The government of South Korea will provide $19 million soft loan to Mongolia for implementation of the project on supply of equipment for main archive department, Montsame reported.

Mongolia says ready to welcome flood-hit Russian children to summer camps www.xinhuanet.com

ULAN BATOR, July 4 (Xinhua) -- Mongolian President Khaltmaa Battulga said on Thursday that Mongolia is ready to welcome up to 100 children from Russia's flood-hit region of Irkutsk to summer camps, according to the Mongolian president's press office.

Rule of law and independence of judiciary under threat in Mongolia www.transparency.org

Transparency International is extremely concerned by the dismissal of 17 judges over corruption accusations in Mongolia last week. The Mongolian parliament should fully implement the joint recommendations issued in May by the UN Special Rapporteur on the situation of human rights defenders and Special Rapporteur on the independence of judges and lawyers.

Mongolia becomes member of World Energy Counci www.lakipress.com

The World Energy Council welcomes Mongolia as its newest member committee, the Council reported.

Naadam opening to be performed for foreign visitors www.zgm.mn

Naadam Festival 2019 will be held at the National Amusement Park at 21.00 pm for foreign visitors. The official opening ceremony of the Naadam Festival takes place at the National Sports Stadium in Mongolian. Therefore, foreign tourists cannot fully understand the meaning of content. This year, the Ministry of Environment and Tourism decided to re-organize the opening as Naadam Night show in English.

Mongolia to establish Genghis Khan's museum www.xinhuanet.com

ULAN BATOR, July 3 (Xinhua) -- Mongolia plans to establish the legendary conqueror Genghis Khan's museum, the country's Minister of Education, Culture, Science and Sports Yondonperenlei Baatarbileg said Wednesday.

UK technical and vocational education standard is to be implemented in Mongolia www.mongolianbusinessdatabase.com

Technical and Vocational Education and Training UK www.tvetuk.org, its Mongolian official partner Mongolian Business Database (MBD) and Global Academy for Professional Education (GAPE) in UB www.gape.education are signed an MoU to implement TVET UK's "Skills Network" global online certified or/and non-certified standard courses in Ulaanbaatar as "in-class" condition.