1 ASPIRE MINING ATTRACTS $16.5 MILLION TO ADVANCE COKING COAL PROJECT IN MONGOLIA WWW.PROACTIVEINVESTORS.COM.AU PUBLISHED:2017/12/13      2 AUDIT OF OYU TOLGOI AND ERDENES TT PLANNED WWW.NEWS.MN PUBLISHED:2017/12/13      3 MONGOLIA AND THE US AGREE TO INTENSIFY LABOR COOPERATION WWW.MONTSAME.MN  PUBLISHED:2017/12/13      4 ALTAI KRAI CONTINUES TO SUPPLY AGRICULTURAL PRODUCE AND PRODUCTS IN MONGOLIA WWW.CHELORG.COM  PUBLISHED:2017/12/13      5 DEPUTY PRIME MINISTER DISCUSSES COOPERATION ISSUES WITH CHINESE DELEGATION WWW.THEUBPOST.MN PUBLISHED:2017/12/13      6 WORLD BANK TO STOP FUNDING OIL AND GAS PROJECTS WWW.MINING.COM  PUBLISHED:2017/12/13      7 SBERBANK AND ALIBABA ABANDON JOINT VENTURE TALKS WWW.FT.COM  PUBLISHED:2017/12/13      8 MINING PRODUCT EXPORT MAKES UP 78.8 PER CENT OF GROSS EXPORT WWW.MONTSAME.MN PUBLISHED:2017/12/13      9 WORLD'S BIGGEST FLOATING SOLAR POWER PLANT STARTS OPERATING A TOP FORMER COAL MINE WWW.MINING.COM  PUBLISHED:2017/12/13      10 ASPIRE MINING ATTRACTS $16.5 MILLION TO ADVANCE COKING COAL PROJECT IN MONGOLIA WWW.PROACTIVEINVESTORS.COM.AU  PUBLISHED:2017/12/13      ЭРҮҮЛ МЭНДИЙН ДЭД САЙД Л.БЯМБАСҮРЭН БНСУ-Д АЙЛЧИЛЖ БАЙНА WWW.DNN.MN  НИЙТЭЛСЭН:2017/12/13     “МОНГОЛ ГАЗРЫН ТОС БОЛОВСРУУЛАХ ҮЙЛДВЭР”-ИЙН ТӨЛӨӨЛӨГЧИД ЭНЭТХЭГТ АЙЛЧЛАВ WWW.NEWS.MN НИЙТЭЛСЭН:2017/12/13     СТАНДАРТЧИЛАЛ, ТЕХНИКИЙН ЗОХИЦУУЛАЛТ, ИТГЭМЖЛЭЛИЙН ТУХАЙ ХУУЛИЙН ТӨСЛИЙН АНХНЫ ХЭЛЭЛЦҮҮЛГИЙГ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2017/12/13     ХХААХҮ-ИЙН САЛБАРЫН ЗОРИЛТОТ ТӨСӨЛ ХӨТӨЛБӨРҮҮДИЙГ ХӨГЖЛИЙН БАНК ДЭМЖИЖ АЖИЛЛАНА WWW.UNUUDUR.MN  НИЙТЭЛСЭН:2017/12/13     GOLDMAN SACHS: 2018 ОНД ТАВААРЫН ӨГӨӨЖ 10 ХУВЬД ХҮРНЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/12/13     НООС, НООЛУУРЫН САЛБАРТ МЕНЕЖМЕНТ ХЭРЭГТЭЙ БАЙНА WWW.NEWS.GOGO.MN  НИЙТЭЛСЭН:2017/12/13     ТАТВАРЫН СИСТЕМ ИРГЭДИЙН АМЬЖИРГААГ ТЭНЦВЭРЖҮҮЛЭХ ҮҮРГЭЭ БИЕЛҮҮЛСЭНГҮЙ ГЭЖ ДҮГНЭВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2017/12/13     12-Р САРЫН 12-НЫ ӨДРИЙН АРИЛЖААНЫ МЭДЭЭ WWW.MSE.MN  НИЙТЭЛСЭН:2017/12/13     ХЭРЭГЛЭЭНИЙ БАРАА, ҮЙЛЧИЛГЭЭНИЙ ҮНИЙН ИНДЕКС ӨМНӨХ ОНЫ МӨН ҮЕЭС 6.5 ХУВИАР ӨСӨВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2017/12/13     ҮСХ: НҮҮРСНИЙ ЭКСПОРТ АНХ УДАА 30 САЯ ТОННЫГ ДАВАВ WWW.MONGOLIANMININGJOURNAL.COM  НИЙТЭЛСЭН:2017/12/12    

Signing of Japanese ODA Loan Agreement with Mongolia: Supporting reforms in Mongolia under an international aid framework with the aim of economic and fiscal reconstruction www.jica.go.jp

On December 5, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of Mongolia in Ulaanbaatar, the capital city, to provide a Japanese ODA loan of up to 32 billion yen for the Fiscal, Social and Economic Reform Development Policy Loan.

The economy of Mongolia depends heavily on the mineral resource sector, which accounts for 20 percent of the country’s gross domestic product (GDP) and 90 percent of exports, which are primarily coal and copper. Due to a drop in the prices of minerals, which are major exports, a slowdown in the economy of China which purchases 80 percent of the exports from Mongolia, a drop in foreign direct investment caused by restrictive investment policies and other such factors, the GDP growth rate dropped from 17 percent in 2011 to one percent in 2016. Fiscally, the country faces such challenges as increasing domestic infrastructure expenses, and rising social welfare expenditures due to inadequate controls on payees. Such factors pushed the fiscal deficit-to-GDP ratio to 17 percent in 2016 while the public debt-to-GDP ratio grew from 33 percent in 2011 to 88 percent in 2016, making reforms toward economic and fiscal reconstruction priorities.

Given these circumstances, an international aid framework totaling approximately 5.65 billion dollars was created in 2017 by the International Monetary Fund, the World Bank, the Asian Development Bank and others. With the aim of economic and fiscal reconstruction in Mongolia as a part of the international aid framework, the project will support reforms by the Government of Mongolia in three areas: stable macroeconomic management, the promotion of helping the socially vulnerable and enhancing economic growth.

Specifically, the project will support reforms such as those aimed at strengthening fiscal discipline in the area of stable macroeconomic management. In the area of the promotion of helping the socially vulnerable, the project will support reforms directed at targeting subsidies to the socially vulnerable and improving their living environment, and in the area of enhancing economic growth, the project will support the stimulation of foreign direct investment through improvements to the investment environment and reforms aimed at economic diversification.

The project will support mid- to long-term reforms from such a macro perspective, contribute to the short-term reduction in the fiscal burden of Mongolia, and contribute to fiscal, social and economic stability.

Two years have passed since the launch of the Sustainable Development Goals (SDGs) adopted by all UN member countries, including Japan and Mongolia. This project aims to accomplish the core SDG principle of “leaving no one behind,” through providing support to the socially vulnerable such as the improvement of living conditions in ger (yurt) districts where many poor people live. In addition to strengthening economic growth, the project will, through collaboration with various other projects being carried out in Mongolia, lead to improvements in social welfare and health care systems and address urban environment issues, especially air pollution in Ulaanbaatar. All these comprehensive areas of support cover the three dimensions of sustainable development (economic, environmental and social) that will be put into practice in the project.



Published Date:2017-12-07