The Ministry of Environment and Tourism (MoET) and The Nature Conservancy (TNC) jointly held a press conference and announced the establishment of the Conservation Trust Fund in Mongolia publicly.

The Conservation Trust Fund is being established by the Government of Mongolia in cooperation with international organizations to mobilize and manage resources and implement long-term conservation programs under the sustainable development framework.

“The Conservation Trust Fund will accelerate our conservation efforts for the protection of biodiversity and adaptation to climate change, including reducing greenhouse gas emissions by 22,7% by 2030, as set out in our National Determined Contributions, and to create a new sustainable financial system for the conservation sector in Mongolia. It will also help us to achieve the national commitments, such as the sustainable development goal – 2030 targets and vision – 2050, Mongolian long-term development targets,” said B. Bat-Erdene, Minister of Environment and Tourism.

According to a study conducted by the UNDP, 44.4% of the total cost of nature protection comes from the state budget, and the remaining 55.6% comes from international donations and aid, salaries and other operational expenses account for about 80% of the total spending of the national protected areas, while the expenses for conservation measures are still insufficient. Therefore, the Conservation Trust Fund is crucial to be established to mobilize and manage resources through a varied range of funding sources, including bi and multilateral donors, private foundations, private companies’ donations, public budget, proceeds of investments, proceeds of financial mechanisms, etc.

“CTF is an independent, legally established system of funding to achieve long-term conservation goals. For this fund, the TNC is committing with donors to secure US$71 million through Project Finance for Permanency. Conservation Trust Funds have been rapidly growing internationally over the past 20 years. Internationally, a total of 108 trust funds have been established, and more than 60 of them are stabilized and strengthened over time, and they manage assets of about 2 billion US dollars,” said Jeffrey Parrish, a Global Managing Director for Protect Oceans, Lands, and Water at the TNC.

Following international best practices, the Mongolia CTF will adopt detailed policies and procedures for transparent and inclusive grantmaking; robust and science-based monitoring; technical and audited financial reporting; and development of new financial solutions to increase funding for conservation. The fund was designed to be a permanent player in Mongolia, to fully finance the network of specially protected areas, and support the implementation of the country’s public policies, obligations, and commitments under international agreements.

The Mongolia CTF is part of the Eternal Mongolia initiative, a Project Finance for Permanence (PFP) project coordinated by the government and TNC. The fund establishment counted on the support and inputs of multiple partners, including the German Gesellschaft für Internationale Zusammenarbeit (GIZ) Mongolia, the Wildlife Conservation Society (WCS), the Biodiversity Foundation, UNDP – BIOFIN, the civil society council; and the government agencies, the Ministry of Finance, the Ministry of Environment and Tourism, the Ministry of Economy and Development, the Bank of Mongolia, and Financial Regulatory Commission.

CTFs are independent, non-governmental, non-profit legal entities that manage conservation funding streams and make grants to implement conservation activities that support biodiversity protection, restoration, conservation, and sustainable development. They bring together multiple stakeholders under their governance system, including government, private sector, NGOs, and community representatives.

The Mongolia CTF is to be launched this month.

Today, during the Mongolia Economic Forum 2023, the Ministry of Economy and Development and UNDP jointly unveiled the Mongolia SDG Investor Map. This pioneering tool serves as a market intelligence resource aimed at channeling capital towards Mongolia's development priorities and Sustainable Development Goals (SDGs) leveraging UNDP’s SDG Impact robust methodology.

The SDG Investor Map has been created to spearhead potential investment into the sectors that have been identified as having a funding gap for bringing deep development impact. The launch of the SDG Investor Map is particularly crucial as financial resources have been redirected to address global crises, posing challenges in mobilizing funds for Mongolia's development priorities.

According to UNDP (2022), Mongolia would need an additional expenditure of US$ 44.2 billion (MNT 126 trillion) or 17% of GDP annually until 2030 to achieve the national targets of the SDGs.

The SDG Investor Map for Mongolia, joins over 30 other SDG Investor Maps listed globally on the SDG Investor Platform, has pinpointed 14 Investment Opportunity Areas (IOAs) that cover themes and business models across six sectors: Food and Beverage, Health Care, Services, Infrastructure, Renewable Resources and Alternative Energy and Finance. Additionally, the SDG Investor Map identifies 12 areas within five sectors that possess growth potential and align with Mongolia’s development priorities. Following the launch of the SDG Investor Map, UNDP and the Ministry of Economy and Development, together with partners, will organize a series of events to bring together investors, companies, and policymakers to accelerate capital towards the identified areas to provide stakeholders with a platform to collaborate and realize investment solutions.

“Mongolia recognizes the importance of the private sector role and contribution in achieving national development plans, including Vision 2050 and the New Recovery Policy to increase national productivity by improving transport logistics, energy production, industrialization, urban and rural infrastructure, and green development. As we address trade issues and post-pandemic challenges, we promote value-added production and attract efficient investments where the SDG Investor Map plays a crucial role to identify investment opportunities aligned with the Sustainable Development Goals.” said His Excellency Khurelbaatar Chimed, Deputy Prime Minister and Minister of Economy and Development.

The Map not only highlights sectors with significant potential for sustainable development but also serves as a cornerstone for engaging in discussions on policy-level measures aimed at enhancing the ecosystem to facilitate private investors in raising capital in these areas.

Ms. Lin Cao, Deputy Resident Representative of UNDP Mongolia, added “Mongolia's potential to attract international sustainable finance offers a promising avenue to address many of the development challenges including climate change, gender inequality, digital transformation and to accelerate the progress on the SDGs. The launch of the SDG Investor Map, in collaboration with the Ministry of Economy and Development, presents an exciting opportunity to not only amplify businesses' efforts in environmental, social, and governance practices but also integrate sustainability and gender equality into their core operations, while also attracting direct investments towards ventures aligned with the SDGs.”

The market intelligence generated by the SDG investor Map offers valuable advantages to private sector investors seeking sustainable investment opportunities. This comprehensive work equips both private and public sector stakeholders with crucial data necessary for adopting an evidence-based approach to effectively channel capital towards areas that present the greatest opportunities and fulfill the country's developmental needs.

Ms. Fabienne Michaux, Director of SDG Impact, concluded, “We are delighted to have launched yet another SDG Investor Map, this time for Mongolia with the support of the Ministry of Economy and Development. Mongolia has taken meaningful strides to improve its economy for its people and environment. However, like many countries, the global crises have not only stalled government strategic plans for growth but set development backwards. We applaud the Government of Mongolia for its commitment to build forward with sustainability and the SDGs at the heart of development by using the market intelligence generated by the Mongolia SDG Investor Map.”

About UNDP

As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. Our work is concentrated in three focus areas; sustainable development, democratic governance and peace building, and climate and disaster resilience. Learn more at www.undp.org/mongolia or follow us at @UNDPMongolia

About SDG Impact

SDG Impact is a UNDP Sustainable Finance Hub flagship initiative, working to accelerate private sector contributions towards sustainability and the achievement of the Sustainable Development Goals (SDGs) by 2030. Its aim is to make it easier for organizations to place sustainability, the SDGs and managing for impact at the core of business and investment purpose, how value is created, and how capital is allocated through its SDG Impact Standards and the SDG Investor Maps.

President Sadyr Japarov has left for Ulaanbaatar upon invitation of Mongolian President Ukhnaagiin Khurelsukh.

During his state visit, President Japarov will hold bilateral talks with the Mongolian President, Prime Minister Luvsannamsrain Oyun-Erdene, Chairman of State Khural Gombojavyn Zandanshatar.

Several other high-level events and visits to industrial enterprises is planned.

The President is joined on this visit by his spouse Aigul Japarova, Foreign Minister Jeenbek Kulubaev, Deputy Chairman of Cabinet of Ministers Edil Baisalov, Chief of Foreign Policy Diviosn of President's Administration Muratbek Azymbakiev, Ambassador of Kyrgyzstan Aibek Artykbaev, Minister of Culture, Information, Sport and Youth Policy Altynbek Maksutov, Minister of Transport and Communications Tilek Tekebaev, Minister of Economy and Commerce Daniyar Amangeldiev, National Investment Agency Director Umbriel Temiraliev, Bishkek Mayor Emilbek Abdykadyrov, Deputy Minister of Agriculture Samat Nasirdinov, Deputy MInister of Natural Resources, Ecology and Technical Supervision Emil Osmonbetov.

As Mongolia prepares to welcome Pope Francis early in September, the Apostolic Prefect of Ulaanbaatar, Cardinal Giorgio Marengo, says the visit is an historic event that the young Mongolian Church will treasure.

He was invited to visit the country on August 24, 2022, when a delegation from the Mongolian government visited the Vatican and handed him an official invitation from the Mongolian President, Ukhnaagiin Khürelsükh.

A young Church

Presenting the official programme, motto and logo of the papal journey on Friday, the Italian Consolata missionary said the visit would have been “unthinkable” only a few months ago.

Pope Francis will be the first-ever Pope to visit the Buddhist nation where the Church started from nothing in 1992, following the fall the Communist regime.

In that year the first Catholic missionaries of the Congregation of the Immaculate Heart of Mary (CICM), also known as Scheut Missionaries, returned to rebuild the Church after nearly seventy years of religious repression.

Since then, the Catholic population has grown slowly, but steadily. Today there are some 1,450 baptized Mongolian Catholics (as against only 14 in 1995) distributed in nine parishes, on a total population of some three and a half million inhabitants. They are served by 29 priests, including two Mongolians, over 40 women religious and three men religious belonging to a dozen congregations and of 27 different nationalities, and three lay missionaries.

Pope St. John Paul II’s plans to visit Mongolia in 2003

During the press conference in Ulannbataar - reported Fides news agency - Cardinal Marengo recalled that Pope Saint John Paul II had already planned to visit Mongolia in 2003, after elevating the then Mission of Ulaanbaatar to the status of Apostolic Prefecture a year earlier, but the plan was cancelled due to his worsening health conditions.

"And now here we are”, he said “20 years later, and about 800 years after the first direct contact between the Holy See and the Mongol emperors, when Pope Innocent IV sent his envoy, the Franciscan Giovanni di Pian del Carpine to personally meet the famous Mongols and start a peaceful dialogue."

Remembering late Bishop Wenceslao Padilla

The 49-year-old Cardinal, who first arrived in Mongolia in 2003, also recalled his predecessor, late Bishop Wenceslao Padilla, the first pioneer priest leading the CICM missionaries in 1992, and the first Apostolic Prefect of Ulan Bataar: "We are yielding the fruits of his great missionary work and of many other missionaries, and we are preparing - also in their name - for this historic event", he said.

Illustrating the meaning of the logo and the motto of papal journey, "Hoping Together", Cardinal Marengo focused on the implications of the papal journey for interreligious dialogue in the country.

The importance of the visit for interreligious relations in Mongolia

Relations with other Mongolian faith communities, and in particular with the local the Buddhist religious authorities, are good and rooted in the ancient tradition of tolerance and openness dating back to Emperor Chinggis Khaan. This was confirmed during the first official visit to the Vatican of a high-level delegation of Buddhist monks from Mongolia on May 28 ,2022, when they met Pope Francis.

Since the establishment of diplomatic relations with the Holy See in 1990, also relations with the civil authorities have continued to grow stronger, as indicates the agreement signed in 2020 by the Mongolian Ambassador to the Holy See and Archbishop Paul Richard Gallagher, Vatican Secretary for Relations with States and International Organizations to extend their collaboration in the cultural field.

The Church’s social work in Mongolia

Mongolian authorities have shown a particular appreciation for the social work carried out by the Church in the country for the poorest and most vulnerable.

On 4 September, the last day of his Apostolic Journey, Pope Francis is scheduled to meet local Church charity workers and will inaugurate the House of Mercy a charity a charity facility including a clinic designed to respond to the immediate needs of homeless people and victims of domestic violence.

According to the Apostolic Prefecture, the centre “represents one of the first major projects launched by the native Catholic Church in a country where missionary works have supported the faith". There is no doubt, remarked Cardinal Marengo, that the Church in Mongolia will be able to treasure the experience of welcoming the Successor of Peter, "growing in that genuine sense of being a single body, well rooted in the country".

The Mongolian government has announced the granting of two licenses to Elon Musk's SpaceX, allowing the company to operate as an internet service provider in the country, said a Reuters report. This move will enable millions of internet users in Mongolia to access high-speed connectivity through Starlink, the satellite communications service operated by SpaceX.

Starlink has established an impressive network of over 3,500 satellites in low-Earth orbit, offering connectivity even in remote areas. While Mongolia already has widespread access to high-speed internet through a network of fiber optic cables, the addition of Starlink's technology will greatly enhance connectivity in hard-to-reach regions.

Uchral Nyam-Osor, the Minister for Digital Development and Communications, expressed the benefits of this collaboration, stating that herders, farmers, businesses, and miners across Mongolia will now have access to global information, improving their lives and productivity.

The formal cooperation between the Mongolian government and SpaceX began earlier this year during the Mobile World Congress held in Barcelona. Last month, Prime Minister L. Oyun-Erdene held a virtual meeting with Elon Musk to discuss potential investment and cooperation in the electric vehicle sector. Mongolia, with its abundant reserves of rare earth minerals and copper, plays a crucial role in the electric vehicle supply chain.

With these licenses granted, SpaceX's Starlink will empower Mongolians with enhanced internet access and bridge the digital divide, ensuring that even remote areas can benefit from high-speed connectivity. This collaboration between the Mongolian government and SpaceX marks an important step forward in leveraging advanced technology to drive progress and improve the lives of people across the country.

SpaceX wants to become a global internet service provider with the help of Starlink and has already started making a big impact in many countries with its services. The next big target market for the company is India, where billions of people await the arrival of satellite internet.

"Mongolia Economic Forum-2023" has started today at the State Palace. About 1,700 domestic and foreign guests are participating in this Forum, which is being held under the slogan "Welcome to Mongolia."

Prime Minister of Mongolia L. Oyun-Erdene opened the Forum with welcoming remarks, and the Chairman of the State Great Khural G. Zandanshatar delivered the keynote speech. Vice President of Asian Development Bank Ashok Lavasa delivered the keynote address. The plenary session of the Forum will be on the topic "Sustainability of Mongolia’s development policy."

This forum is being held under the expectation of economic growth of Mongolia. The rapid economic growth of Mongolia after the global "Covid-19" pandemic will be highlighted.

In 2022, Mongolia's economy grew by more than 4 percent, and it is expected to grow in 2023 and 2024.

The Speaker of the Lok Sabha, Lower House of the Parliament of India Om Birla, who is on an Official Visit to Mongolia visited the state-owned company “Mongol Refinery” LLC on July 7.

Dr. D. Altantsetseg, the Executive Director of the “Mongol Refinery” LLC, Mongolia's Consulting Engineer expressed gratitude to the government and parliament of India for all-round support to the establishment of the first oil refinery, which has specifically important to the economic development and energy independence of Mongolia and informed on the progress of the project.

The Government of Mongolia is implementing the Project to establish a grass root Oil Refinery Plant based on domestic crude in Dornogobi aimag, located in Southeastern part of the country, within the framework of the soft loan extended by the Government of India to ensure energy independency and expand the industry diversification.

Upon approving the Detailed Feasibility Study and selecting "Engineers India Limited" as Project Management Consultant in 2019, the design and engineering works have completed, and from this year on, the mechanical erection of the main technological facilities has started at full capacity.

Out of four main EPC packages planned for the project, the first package, which comprises of non-technological facilities, such as civil buildings (office-training center, first aid center, fire station, warehouse, laboratory, workshop, canteen, 30 thousand cubic meter underground water storage tank) is at the final stage, noted Executive Director Dr. D. Altantsetseg.

EPC 02 package consists of initial processing units, such as Atmospheric and Vacuum Distillation Units, Saturated Gas Plant, and utilities, including tank farms, product dispatching facilities, and the different types of auxiliary and supporting units, whereas a 35 MW Thermal Power Plant would be built as part of the EPC 03 package. The site works of these packages have commenced, informed the project implementers.

Petro Matad Limited shares shot up nearly 60 percent in Thursday’s early deals as the explorer landed a new permit from the authorities in Mongolia.

The company, which for over a decade has sought to unearth oil resources from the Mongolian expanse, told investors that the Cabinet of the Mongolian Government has approved the certification of the Block XX Exploitation Area, including the firm’s Heron oil discovery.

It certifies Block XX as special purpose land and gives Petro Matad legal right of access to the entire area for the purpose of hydrocarbon exploration and exploitation, the company noted.

“This important step has been a very long time coming but now provides a firm legal standing to the company to execute the approved plan of development for Heron and to explore the exciting potential around it,” said chief executive Mike Buck.

“I would like to thank all our shareholders and in particular those that have been with Petro Matad for some years now, for their patience during this protracted certification process.”

In a statement, the explorer said it is in talks with service providers to determine a timeframe in which crews and equipment can be available to complete the Heron-1 well for production.

In London, Petro Matad shares were up 1.81p or 46 percent, changing hands at 5.7p and valuing the company at £60.6mln.

Earlier, the share price peaked at around 6.2p per share.

During its weekly meeting on July 5, Cabinet reviewed the draft parliamentary resolution on measures to be taken in connection with the construction of the Gashuunsukhait-Gantsmod cross-border railway and decided to submit it to Parliament.

With the approval of the draft resolution, the border railway agreement established in 1955 will be renewed and the legal basis for connecting the border ports of Shiveekhuren-Sekhee, Gashuunsukhait-Gantsmod, Zamyn-Uud-Erenhot, Bichigt-Zuunkhatavch railways will be formed.

The government also views that the construction of the Gashuunsukhait-Gantsmod cross-border railway will increase coal exports, reduce transportation costs, transport mining products in a way that has less negative impact on the environment, and raise budget revenue and foreign exchange reserves.

Cabinet also made the following decisions:

• Minister of Finance B.Javkhlan was assigned to take measures to fully finance the Choibalsan Thermal Power Plant Expansion Project regardless of the financing of the Development Bank of Mongolia.

• It was decided to discuss and submit the draft amendment to the Law on Securities Market and other related bills to Parliament.

• The guidelines to be followed by the Mongolian delegation led by Deputy Prime Minister of Mongolia S.Amarsaikhan, who will attend the 22nd meeting of the Joint Committee on Cooperation between Mongolia and the EU, which will be held on July 26 in Brussels, were approved.

• Cabinet decided to submit the draft revision of the Law on Plant Health and Plant Protection to Parliament.

• Minister of Environment and Tourism B.Bat-Erdene was authorized to implement land protection functions in the Khomyn Tal National Park by a non-governmental organization on the basis of a contract.

• Minister of Justice and Internal Affairs Kh.Nyambaatar was instructed to draft the revision of the Law on the Chamber of Commerce and Industry and discuss it at the Cabinet meeting.

• Border Guard Unit No. 0131 in Dalanzadgad soum of Umnugovi Province was named after the honorable border guard, Major General Ch.Sandr.

• This year, the 100th anniversary of the birth of N.Sodnom, a prominent public and social figure, leading scientist and academician of education and science, will be celebrated.