1 GAZPROM, MONGOLIA SIGN ENERGY MOU, PAVING PATH FOR POWER OF SIBERIA-2 WWW.OILPRICE.COM PUBLISHED:2025/08/27      2 MONGOLIA, US DISCUSS COOPERATION IN INVESTMENT, MINING, TOURISM, SPACE EXPLORATION WWW.MONTSAME.MN PUBLISHED:2025/08/27      3 MONGOLIA TO INCREASE COAL SUPPLY TO CHINA WWW.MONTSAME.MN PUBLISHED:2025/08/27      4 PM REAFFIRMS TRANSPARENCY IN BUDGET APPROVAL WWW.MONTSAME.MN PUBLISHED:2025/08/27      5 BUDGET 2026: SOCIAL INSURANCE AND WELFARE PENSIONS TO RISE BY 6% NEXT YEAR WWW.GOGO.MN PUBLISHED:2025/08/27      6 GAZPROM SIGNS MEMORANDUM OF COOPERATION WITH MONGOLIAN GOVT ON OIL AND GAS WWW.INTERFAX.COM PUBLISHED:2025/08/27      7 WATER-RELATED ACCIDENTS KILL 70 IN MONGOLIA THIS YEAR WWW.XINHUANET.COM PUBLISHED:2025/08/27      8 FITCH AFFIRMS MONGOLIAN MINING AT 'B+'; OUTLOOK STABLE WWW.FITCHRATINGS.COM  PUBLISHED:2025/08/26      9 20-DAY ODD-EVEN LICENSE PLATE RESTRICTION TO BEGIN ON AUGUST 27 WWW.GOGO.MN PUBLISHED:2025/08/26      10 WHY CHINESE INNER MONGOLIA BAOTOU STEEL UNION'S 40% PROFIT SURGE SIGNALS A STRONG BUY OPPORTUNITY WWW.AINVEST.COM  PUBLISHED:2025/08/26      ТӨГРӨГ НУУРЫН БҮЛЭГ ОРДЫГ ТӨРД БУЦААН АВАХААР ШИЙДВЭРЛЭЛЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/08/27     “ГАЗПРОМ”-ТОЙ ГАЗРЫН ТОСНЫ САЛБАРТ ХАМТРАН АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/08/27     SXCOAL-ТАЙ ХАМТАРСНААР ХЭРЭГЛЭГЧДЭД ХАМГИЙН БОЛОМЖИТ ХУВИЛБАРЫГ САНАЛ БОЛГОХ БОЛОМЖТОЙ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/08/27     "РИО ТИНТО"-ТОЙ ХИЙХ АРБИТРЫН МАРГААНД ЗГ-ЫГ Н.МЯГМАРААР АХЛУУЛСАН АЖЛЫН ХЭСЭГ ТӨЛӨӨЛНӨ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/08/27     ЭМЭЭЛТ ЭКО АЖ ҮЙЛДВЭРИЙН ПАРКИЙН ДЦС-ЫН ГЭРЭЭНД ГАРЫН ҮСЭГ ЗУРЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/08/27     "ЦЕМЕНТ ШОХОЙ" ХК-ИЙГ ТҮШИГЛЭН АЖ ҮЙЛДВЭРИЙН ПАРК БАЙГУУЛАХ САНАМЖ БИЧИГТ ГАРЫН ҮСЭГ ЗУРЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/08/27     ЭНХТАЙВАНЫ ГҮҮРИЙГ ШИНЭЧИЛЖ ЗАССАНААР 15-20 ЖИЛЭЭР НАСЖИЛТ НЭМЭГДЭНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/08/27     ХЯТАДЫН ИМПОРТЫН НҮҮРСНИЙ 48 ХУВИЙГ МОНГОЛ УЛС, 29 ХУВИЙГ ОХУ-ААС НИЙЛҮҮЛЖЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/08/26     “ЦАЙРТ МИНЕРАЛ” КОМПАНИЙГ "ЭРДЭНЭТ"-ИЙГ ТҮШИГЛЭН БАЙГУУЛАХ ЗЭС ХАЙЛУУЛАХ ҮЙЛДВЭРИЙН СОНГОН ШАЛГАРУУЛАЛТАД ОРОЛЦУУЛАХААР УРЬЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/08/26     С.БЯМБАЦОГТ: ЗАСГИЙН ГАЗАР ОЮУ ТОЛГОЙН АСУУДЛЫН ЗАНГИЛААГ ТАЙЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/08/26    

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

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Study underway to ban children under 16 from accessing social networks, says Mongolia education minister www.gogo.mn

P.Naranbayar, Minister of Education, made a statement on February 14, 2025, announcing that a Working Group has been established to explore a potential law prohibiting children under 16 from accessing social networks in Mongolia. The group, led by Minister’s Advisor D.Gantulga, will study similar laws implemented in other countries, particularly focusing on Australia’s recent legislation.
Australia’s Law as a Reference
On November 29, 2024, Australia passed a law prohibiting children under 16 from using social networks such as Facebook, Twitter, Snapchat, and TikTok, which has since gained global attention. The Working Group in Mongolia is now reviewing the effectiveness of this legislation and working on a draft law that could introduce similar restrictions. The aim is to protect children from inappropriate content, cyberbullying, and potential mental health risks associated with excessive social media use.
Public Consultations and Data-Driven Approach
Minister Naranbayar emphasized the importance of reaching a social consensus on the issue through discussions and consultations with all affected groups. He cited a 2020 survey on “Children’s Safety in the Online Environment,” which revealed a concerning disparity: while 91% of parents believed their children had never been attacked online, 87% of children reported experiencing online abuse—60% of whom never told their parents.
“Protecting our children from inappropriate content and online risks is a responsibility we must take seriously,” said the minister. He noted that several European countries have introduced similar measures:
In France, users under 15 must have parental consent to access social media.
Germany allows children aged 13-16 to use social networks with parental supervision.
Norway is considering raising the minimum age for social media use to 15.
Countries like the United States, Canada, and the United Kingdom require parental consent to collect information from users under 13.
Balancing Protection and Access to Educational Content
Minister P.Naranbayar reassured the public that children’s right to access educational content on platforms such as YouTube and Medley will not be affected. He stressed that the use of school management systems (SMS) and learning management systems (LMS) will be improved to ensure effective teacher-student communication without relying on social media platforms like Facebook Messenger.
The Eduten program, in use from the second grade, allows children to engage in learning activities for around 20 minutes at a time without causing screen addiction. The program utilizes smartboards in classrooms and computer screens at home, promoting structured learning.
Screen Addiction: A Growing Concern
D. Gantulga, head of the Working Group, warned about the dangers of screen addiction, comparing it to other forms of dependency such as gambling, alcohol, and drug addiction. “When children are exposed to screens excessively, their brains release increased amounts of dopamine, similar to addiction patterns in other areas,” he said. “This can lead to long-term mental health issues.”
He emphasized that the working group is closely studying the Australian model to develop policies that protect Mongolian children from screen addiction while promoting safe and healthy digital engagement.

 
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InvesCore Financial Group Pte. Ltd. completed the acquisition of Fintech Asia Limited (LSE : FINA) in a reverse merger transaction www.marketscreener.com

InvesCore Financial Group Pte. Ltd. entered into non-binding heads of terms to acquire Fintech Asia Limited (LSE : FINA) in a reverse merger transaction on March 14, 2023. The consideration for the proposed acquisition shall be satisfied by the issue of ordinary shares in Fintech Asia equivalent to not less than 80% and not more than 90% of the total share capital of Fintech Asia. Upon the occurrence of a Break Fee Event, InvesCore and its vendors will be jointly and severally liable to pay Fintech Asia the actual costs it has incurred in relation to the proposed acquisition of up to £2 million in cash. As of January 23, 2025, ICFG Limited signed an acquisition agreement on January 23, 2025. EGM of ICFG Limited will be held on February 11, 2025. the Company is proposing to change its name to "ICFG Limited", subject to the passing of the requisite resolution at the Extraordinary General Meeting and Admission. At that time, the Company's stock ticker symbol will be changed to "ICFG".
Completion of the proposed acquisition is subject to various conditions, including the completion of appropriate due diligence, the entering into of a sale and purchase agreement, the approval of Fintech Asia shareholders at a general meeting to be convened in due course, the publication of a prospectus by Fintech and approval of FCA. The long stop date for the entering into a definitive sale and purchase agreement is December 31, 2023. As of September 8, 2023. intech Asia Ltd on Friday said it obtained an unsecured committed facility of GBP1 million via a convertible loan note instrument with the noteholder IVC Estonia OU. Rory Murphy of Strand Hanson Limited acted as financial advisor of Fintech Asia Limited.
InvesCore Financial Group Pte. Ltd. completed the acquisition of Fintech Asia Limited (LSE : FINA) in a reverse merger transaction on February 12, 2025. Fintech Asia's name will be legally changed to ICFG Limited and is expected to be effective on market on February 13, 2025 with the TIDM changing to 'ICFG'.
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Mongolia to Conduct Geological Mapping and Surveys of Critical Minerals in Cooperation with the British Geological Survey www.montsame.mn

On February 13, 2025, the Mongolian National Mining Association and the British Embassy jointly organized a discussion on “Mining Investment Opportunity in Mongolia” to exchange information and develop an action plan for further cooperation.
As raw material consumption increases due to the impact of the energy transition in the world, Mongolia focuses on geological surveys and exploration of critical minerals. Therefore, during the event exploration of critical minerals in Mongolia and cooperation with countries in geological surveys were discussed.
Mongolia will conduct geological mapping and surveys of critical minerals in cooperation with the British Geological Survey.
Advisor to the Minister of Industry and Mineral Resources of Mongolia J. Mendsaikhan, emphasized, “There is a high demand for critical minerals in many countries. If we properly take this advantage, it will positively impact on the economy. Therefore, it is necessary to properly direct the government policy for leveraging our resources and developing mutually beneficial cooperation.”
"The mining sector plays a significant role in social and economic growth. To achieve economic stability and growth, exploration and geological surveys must be intensified and all the stakeholders including government agencies, local communities, and the public should be responsible and work together. In addition, investors should be provided with favorable conditions to operate actively. If we want to increase foreign investment in Mongolia, it is time to focus on ensuring the sustainable operation of existing investors. In addition, the legal environment must also be stable. We need to intensify and support the currently stalled exploration research with policies. We have issued exploration permits in various ways, such as through applications, tenders, and selection. We need to study which of these was more effective and should increase the number of licenses issued,” noted Chief Executive Officer of the Mongolian National Mining Association Erdenetuya Ganbold.

 
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"Gashuunsukhait-Gantsmod" railway agreement signed www.gogo.mn

On February 14, 2025, L.Oyun-Erdene, Prime Minister of Mongolia, and Premier of the State Council of the People's Republic of China Li Qiang held a meeting.
During the meeting, the Government of Mongolia and the Government of the People's Republic of China signed and ratified an agreement to connect the Gashuunsukhait-Gantsmod port cross-border railway, the top priority among Mongolia’s 14 mega development projects.
Discussions on this project began in 2004. Over the past 17 years, the project went through more than 60 rounds of talks, three recommendations from the National Security Council, six parliament resolutions, and 45 government resolutions before reaching an agreement today.
The Gashuunsukhait-Gantsmod railway is the second railway link between Mongolia and China, following the Zamiin-Uud–Erlian railway, which was established under a 1955 agreement.
Once operational, the new railway is expected to double Mongolia’s port capacity. Coal exports will increase from 83 million tons to 165 million tons annually, boosting coal sales revenue by $1.5 billion per year.
The project will significantly contribute to the National Wealth Fund’s Accumulation Fund, laying the foundation for long-discussed tax reforms.
Additionally, the agreement opens the door for future railway connections at the Shiveekhuren-Sekhee, Bichigt-Zuun Khatavch, and Khangi-Mandal border ports, further enhancing Mongolia-China connectivity.
If the agreement had been finalized in 2004, it is estimated that Mongolia could have generated an additional $31.5 billion in revenue, avoiding long-standing disputes related to Tavan Tolgoi and addressing the country’s infrastructure needs much earlier.
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Mongolia Participates in the 61st Munich Security Conference www.montsame.mn

The Mongolian delegation led by Minister of Foreign Affairs of Mongolia Battsetseg Batmunkh participated at the 61st Munich Security Conference in Germany on February 14-16, 2025.
Besides taking part in the Conference, Foreign Minister Battsetseg met with foreign ministers of countries and representatives of international organizations to exchange views on bilateral relations and cooperation. The Foreign Minister of Mongolia also attended the ministerial-level meeting of the “Feminist Foreign Policy Network,” which is traditionally organized during international conferences.
The Munich Security Conference, which has been organized annually for over sixty years, is seeing increasing numbers of participants including Heads of State, and Government, military and defense leaders, heads of international organizations, academics, media and business representatives, expanding into a leading world conference discussing international security policy.
 
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Prime Minister of Mongolia on a Working Visit to the People’s Republic of China www.montsame.mn

Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai is on a working visit to the People’s Republic of China.
As part of the working visit, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai will meet with Premier of the State Council of the People’s Republic of China Li Qiang on February 14, 2025. After the meeting, the two sides will sign the Agreement between Mongolia and the People's Republic of China on Cooperation in Increasing the Coal Trade and the Capacity of the Tavan Tolgoi Coal Mine and Establishing the Gashuunsukhait-Gantsmod Cross-Border Railway.
Furthermore, Prime Minister Oyun-Erdene will attend the Closing Ceremony of the 9th Asian Winter Games “Harbin 2025,” taking place in Harbin, the People’s Republic of China.
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Mongolia, China to sign Cross-Border Railway Agreement www.news.mn

The Mongolian government has initiated to establish a Cross-Border Railway Agreement for the Gashuunsukhait-Gantsmod railway, one of the 14 mega projects, and submitted a related bill to the Parliament. The Cabinet of Mongolia granted the authority to sign the agreement to Minister of Industry and Mineral Resources of Mongolia Ts.Tuvaan and Minister of Road and Transportation of Mongolia B.Delgersaikhan. They are going to sign Cross-Border Railway Agreement today /2025.02.14/.
In the context of this historic event, Mongolian Prime Minister L.Oyun-Erdene is paying a work visit to the People’s Republic of China. Mongolian Prime Minister L.Oyun-Erdene is going to meet Premier of the State Council of the People’s Republic of China Li Qiang.
The Prime Minister will also attend the closing ceremony of the 9th Asian Winter Games “Harbin-2025” being held in Harbin, China.
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Ukraine and US partner in critical minerals sector www.mining.com

Recently, President Donald Trump initiated access to Ukraine’s critical minerals in return for US military support in a war with Russia. The attraction of strategic investors in the development of critical minerals was also a measure of the Victory Plan, presented by President of Ukraine Volodymyr Zelensky.
Below, I will try to describe which minerals could be a part of a mutually beneficial agreement between Ukraine and the US.
The industry of critical raw materials for battery and modern technology manufacturing is one of the fast-growing sectors, where Ukraine can integrate with international and regional value chains, diversifying and de-risking global demand.
Ukraine holds 23 of the 50 strategic materials identified by the US as critical, and 26 out of the 34 recognized by the EU as critically important. Particularly, Ukraine holds very competitive positions in five key ones: titanium, graphite, lithium, beryllium, and REEs.
Today, this group of minerals in Ukraine is partially developed and almost not used for the production of metal alloys and finished goods. Currently, there are 30 licenses issued for their development.
Moreover, the Government holds more than 30 unlicensed deposits and about 400 promising occurrences, managing several important industrial assets, which are still capable of fabricating metal titanium, aluminum, silicon, germanium, and gallium.
Titanium and beryllium – for aerospace and defense
Titanium is a critical raw material for industries such as aerospace, defense, chemical, and pigment fabrication.
Ukraine holds the largest titanium reserves in Europe, ranking in the top-5 for titanium rutile reserves, capable of meeting US and EU metallic titanium demand for over 25 years.
The global titanium supply chain is heavily reliant on China and Russia, both controlling a significant portion of production and processing (especially in the metal value chain).
Should Russia impose an export ban on metallic titanium, it would significantly impact Boeing, Airbus, and the aerospace and defense sectors, which rely on this metal for high-strength, corrosion-resistant applications.
Ukraine has extensive experience in titanium mining and processing in slag and sponge, but it has no melting capacity. Ukraine holds several deposits with no operators, one of them is the largest hard-rock ilmenite globally – Stremyhorodske, similar to giants such as Norwegian Tellnes and Canadian Lac Tio.
Therefore, Ukraine proposes foreign investors to partner with and invest in its domestic titanium industry, encouraging the construction of new melting fabrication, as well as the production of non-metallic products (white pigment) based on existing industrial sites in the Zhytomyr and Dnipropetrovsk regions.
Only a few countries in the world are engaged in mining and processing of beryllium ores. There is one explored Perzhansk beryllium deposit in Ukraine, a license for the development of which was granted in 2019 to a private Ukrainian investor. Beryllium oxide reserves of this deposit amount to 13.9 Kt, capable of satisfying over 20 years of global production.
Lithium and graphite – for energy storage
Demand for batteries is expected to multiply in the next decade, but 90% of the battery supply chain, particularly lithium processing, is controlled by China.
Lithium reserves in Ukraine are insignificant on a global scale, while at the same time, they make up roughly a third of the proven deposits of European countries, which positions it as a potentially important supplier of carbonate or hydroxide to the European battery industry.
Currently, lithium is not mined in Ukraine. Three explored deposits are known, one of them is licensed, and one is a promising occurrence. Unfortunately, two of four lithium sites are currently in the temporarily occupied territory. The necessary investments at the first stage of mining and production of carbonate or hydroxide are from $150 to 350 million for one project.
Ukraine can supply battery factories with natural graphite concentrate, which can later be refined into active anode material for battery cells.
There are six known deposits, one of which is operated by Australian public company Volt Resources, whose products are supplied to many countries around the world, including the USA, and licenses were issued for three more deposits in 2019 and 2021 (Ukrainian BGV Group, Turkish Onur Group).
The total amount of necessary investments for the modernization and construction of fabrication facilities for the production of high-purity spherical graphite at the two deposits is estimated at $650 million.
Rare, rare earth metals – valuable components for semiconductors
Opportunity for the extraction of tantalum and niobium and REEs are largely related to the development of the Novopoltava phosphate deposit and the Azov deposit of rare earth metals (both are temporarily outside the control of Ukraine) and potentially several other occurrences, together with the establishment of technologies for their extraction from ilmenite ores, especially accumulated in wastes of the production of seven operating mining and beneficiation enterprises.
Ukraine has significant reserves of germanium, which is a co-product of several minerals and is found in gas and hard coal, brown coal, as well as in ash, which is formed as a result of burning coal for the generation of electricity. In addition, germanium is dispersed in lead-zinc production waste, metallurgical slags, and carbonaceous clays.
In Soviet time and at the beginning of the 2000s, coking coal served as a source of germanium in Ukraine, its extraction was carried out at the facilities of coke chemical plants, and processing took place at the hydrometallurgical facilities of the Zaporizhzhya Titanium Magnesium Plant, fabricating purified germanium tetrachloride and optical monocrystalline germanium lenses.
It is promising to restore gallium production at the Mykolaiv alumina plant as a processing of aluminum bauxite from Visokopil deposit in the Dnipropetrovsk region, as well as to establish the fabrication of crystalline silicon from high-quality quartz sands, in particular, of the Glukhiv quarry in the Sumy region.
During the times of the USSR, 80% of the production capacity of silicon was concentrated in Ukraine, which was manufactured in the city of Zaporizhzhia at the semiconductor factory and aluminum production plant.
Conclusion
Therefore, the available resources in Ukraine and global prospects for the development of critical minerals – particularly, titanium, graphite, rare earths, lithium, beryllium – allow Ukraine to become an element of joint supply chains with NATO states and OECD partner countries, contributing to the integration of Ukraine’s economy into modern high-tech production cycles.
Meanwhile, to explore those critical minerals, Ukraine needs large capital and modern technologies. Today, only private foreign companies can provide the necessary funds and expertise. To attract investment in the mining industry, the Ukrainian Government works to create the necessary regulatory environment.
Certain achievements can be considered the acquisition of several assets by venture investors from Australia (Volt Resources), Turkey (Onur Group), and Azerbaijan (NEQSOL Holding), as well as the conclusion of a number of important intergovernmental agreements, including the signing of Ukraine’s Facility program with the EU.
At the same time, the strategic partnership with the USA can be considered the most promising, it is a logical and necessary action to ensure the rapid development of new competencies of Ukraine in high-tech and innovative sectors of the economy.
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Frontclear arranges an ISDA-documented landmark local currency cross-border repo transaction with State Bank Mongolia www.cardanodevelopment.com

February 2025. Frontclear arranged, structured and executed a USD 31 million synthetic local currency cross-border repurchase transaction with State Bank JSC (State Bank) in Mongolia, hedged by The Currency Exchange Fund N.V. (TCX).
Credit risk, legal and operational risks plus wrong-way risk concerns continue to make it difficult for Mongolian banks to be connected to global money markets. The transaction made it possible for State Bank to competitively access local currency funding from global markets. It also once again underscored that Frontclear deal arranging and structuring can be tailored to overcome certain legal and operational issues related to Mongolia.
“Frontclear has closed more than 10 repo and swap transactions in Mongolia since 2018. We are proud of our catalytic role we have played in originating the first of its kind local currency repo where Frontclear directly provided synthetic MNT currency to State Bank against Eurobond collateral using offshore sources for both funding and hedging. The transaction provides a template to exercise cross-border repos between Mongolian banks and global banks and hedge providers using both local and offshore collateral. It sets a benchmark for the development of Mongolia’s money market going forward.” – Andrei Shinkevich, SVP Frontclear
“We are delighted to successfully execute this inaugural synthetic local currency cross-border repo transaction with Frontclear. Since our initial collaboration in 2018, our partnership has continued to strengthen, playing a key role in the growth of Mongolia’s financial market through the adoption of international best practices. This innovative transaction has enabled State Bank to access competitive local currency funding from global markets, greatly enhancing our liquidity management capabilities. We believe this mechanism creates opportunities to reach the international money market, contributing significantly to the development of the domestic capital market. – Gantur Ulzii, Chief Executive Officer, “State Bank” JSC of Mongolia
“This transaction showcases TCX’s contribution to market development in Mongolia and its additionality. The historically successful onshore hedging facility provided by Bank of Mongolia is downscaling, which allows other hedge providers to take up a more significant role in supporting the market. Consequently, TCX’s ability to facilitate hedging transactions for a range of use cases, tenors and currencies, combined with conducive pricing has resulted in a large pick up in the MNT business through its partners such as Frontclear and other impact investors. We are glad to see the increasing awareness of currency risk and to be part of this impact story.” – Xander Goudriaan, Head of Trading, TCX
In this transaction, Frontclear has sourced USD liquidity from the European Bank of Reconstruction and Development (EBRD) and simultaneously executed a MNT/USD hedge with TCX, therefore being able to provide synthetic MNT repo funding to State Bank. This repurchase transaction is documented under an International Swap and Derivatives Association (ISDA) agreement, whereby Frontclear customized the swap confirmation to account for legal issues in the Mongolian market. The transaction documentation introduced best practice operational and legal concepts including for local currency denominated repo. TCX and Frontclear are part of the Cardano Development group.
About Frontclear
Frontclear is a development finance institution that aims to support stable and inclusive money markets in emerging and developing countries. Frontclear provides credit guarantees and technical assistance to facilitate access and liquidity in the interbank markets, especially for local financial institutions. Frontclear’s global technical assistance program works in partnership with central banks to develop the financial infrastructure, legal environment and the skills and capacity of the domestic market participants. Frontclear is funded by European development finance institutions and global development agencies. Frontclear is rated A- by Fitch and Baa1 by Moody’s and is furthermore counter-guaranteed by KfW, a AAA- rated German development Bank. For more information, visit www.frontclear.com
For media inquiries, contact:
Andrei Shinkevich, Frontclear | ashinkevich@frontclear.com
About TCX
The Currency Exchange Fund (TCX) is a development finance initiative that offers currency derivatives in emerging and frontier markets where such hedging solutions are not provided by commercial banks or are hard to access for the parties who need them. TCX’s shareholders consist of development finance institutions and impact investors; therefore the Fund’s principle objective is to eliminate currency risk and contribute the development of capital markets by fostering local currency financing. TCX provides cross-currency swaps and FX forwards with no tenor limits, covering more than 100 currencies worldwide. The Fund is based in Amsterdam and rates A by S&P and A1 by Moody’s. For more information, please visit https://www.tcxfund.com/
About State Bank
The State Bank is a publicly listed joint-stock company with state ownership. Since its establishment in 2009, the Bank has been significantly contributing to the national banking system by meeting the financial needs of both retail and corporate customers through reliable and timely services, supported by its skilled workforce and advanced technology. As one of Mongolia’s five systematically important banks, the State Bank has the strongest retail banking presence in the country, with over 500 branches nationwide. The bank is rated B2 by Moody’s. For more information, visit our website at www.statebank.mn
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UNDP co-organizes Mongolia’s first conference on National Strategy for AI and Big Data www.undp.org

The Government of Mongolia, led by the Ministry of Digital Development, Innovation, and Communications, in partnership with UNDP, hosted the country’s first conference on National Strategy for Big Data and Artificial Intelligence at the State Palace. The event brought together government officials, industry leaders, and global experts to shape Mongolia’s AI development and digital transformation.
Mongolia is advancing AI and big data integration into its economy, governance, and public services. The country ranks 46th in the E-Government Development Index and 98th in the Government AI Readiness Index, reflecting steady progress. The government’s Vision-2050 development plan identifies AI as a key driver of economic modernization and improved governance. However, challenges remain, including the need for a comprehensive national AI strategy, stronger digital infrastructure, and skilled professionals.
His Excellency Amarsaikhan Sainbuyan, the Deputy Prime Minister of Mongolia, stated “It is crucial for Mongolia to develop a strategy on effectively utilizing technological advancements, generating big data across all sectors, and aligning digital transformation with economic growth, social development, and sustainable development policies. Therefore, the Government of Mongolia aims to introduce and leverage technological innovations and new development opportunities across sectors, consistently support an equitable and sustainable digital transition, and ensure cross-sectoral coordination.”
Discussions at the conference centered on the responsible use of AI, ethical considerations, and regulatory frameworks to promote inclusive and transparent development. The outcomes will inform the development of Mongolia’s National AI Strategy, which aims to position the country as a regional leader in digital innovation by 2030 and was presented during the conference.
His Excellency Baatarkhuu Tsend, the Minister of Digital Development, Innovation, and Communications, stated, " Today, we are pleased to introduce the first draft of Mongolia’s National Big Data & AI Long-Term Vision/Strategy to a broader group of stakeholders for public discussion. AI is no longer a technology of the future—it is shaping our world today. Mongolia is committed to harnessing AI responsibly, ensuring that it is inclusive, ethical, and aligned with our national development goals. With the right policies, investments, and partnerships, we can build an AI-driven digital economy that benefits every Mongolian, from businesses and researchers to students and public servants."
UNDP is supporting Mongolia’s AI ambitions by leveraging global expertise and best practices through its partnership with the Ministry of Digital Development, Innovation, and Communications. As part of this collaboration, UNDP is conducting an AI Landscape Assessment to evaluate Mongolia’s AI readiness and provide strategic recommendations, with support from UNDP’s Chief Digital Office and Inclusive Growth Team in the Regional Bureau for Asia and the Pacific. Additionally, UNDP is carrying out an AI Futures and Foresight Analysis to help Mongolia anticipate future challenges and opportunities while ensuring AI policies align with long-term national goals.
Ms. Matilda Dimovska, UNDP Resident Representative in Mongolia, stated "AI presents a unique opportunity for Mongolia to accelerate progress toward its Vision-2050 and SDGs. However, realizing its full potential requires a responsible, inclusive, and forward-looking approach. UNDP is proud to support Mongolia’s National Big Data & AI Long-Term Vision and Strategy by bringing global expertise, fostering collaboration, and ensuring that AI development is ethical and leaves no one behind. Together, we can build an AI-powered future that works for all."
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