1 RUSSIA’S GRAIN EXPORTS SURGE MORE THAN 54% THIS YEAR WWW.RT.COM PUBLISHED:2018/11/12      2 INVEST MONGOLIA TOKYO ON NOVEMBER 19 WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/12      3 AN “ALTERNATE ECONOMY” RUN BY CHIEFTAINS WWW.BLOGS.UBC.CA PUBLISHED:2018/11/12      4 BRITISH COLUMBIA REVISES LAW THAT REGULATES THE ENVIRONMENTAL ASSESSMENT OF MAJOR RESOURCE PROJECTS WWW.MINING.COM PUBLISHED:2018/11/12      5 ALIBABA SINGLES DAY SALES FRENZY SURPASSES RECORDS WWW.BBC.COM PUBLISHED:2018/11/12      6 CHINA’S OIL IMPORTS SURGE TO RECORD HIGH WWW.RT.COM PUBLISHED:2018/11/12      7 UN ADOPTS LITERACY RESOLUTION SPONSORED BY MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/12      8 NUMBER OF ECO SCHOOLS REACHES TO 286 WWW.MONTSAME.MN PUBLISHED:2018/11/12      9 SMALL WASTEWATER TREATMENT PLANT BEGINS OPERATION IN UB WWW.NEWS.MN PUBLISHED:2018/11/09      10 MONGOLIA CELEBRATES BIRTHDAY OF GENGHIS KHAN WWW.XINHUANET.COM PUBLISHED:2018/11/09      ЕВРОПЫН ХОЛБОО МАНАЙ УЛСАД ТӨЛӨӨЛӨГЧИЙН ГАЗРАА НЭЭХ ГЭЖ БУЙД ТАЛАРХАЛ ИЛЭРХИЙЛЛЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2018/11/12     ГАШУУНСУХАЙТ БООМТ: "ОЮУ ТОЛГОЙ" ХХК-ИЙН ЭКСПОРТ БААСАН ГАРАГТ БҮРЭН ЗОГССОН Ч БЯМБА ГАРАГТ ХЭВИЙН БОЛСОН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/12     ШВЕДИЙН ШИНЭ ОНЫ ХУАНЛИ, ЯРУУ НАЙРГИЙН ТҮҮВЭРТ МОНГОЛ ХАЙЧИЛБАР ХЭВЛЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/12     SAMSUNG: ИРЭХ ОНД САЯ ГАРУЙ ЭВХЭГДДЭГ ГАР УТАС ҮЙЛДВЭРЛЭНЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2018/11/12     БИЗНЕС ЭРХЛЭГЧИД ЖДҮ-ИЙН ХУУЛИУДЫГ ЯАРАЛТАЙ БАТЛАХЫГ ШААРДЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/12     ХУДАЛДААНЫ ДАЙНААС ДАЙЖСАН МӨНГӨ ЗАХ ЗЭЭЛ ХАЙЖ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/12     ЖДҮХС-ГИЙН ЗЭЭЛИЙГ БАНК БУС САНХҮҮГИЙН САЛБАР РУУ ОРУУЛАХ БОЛОМЖГҮЙ ГЭВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/12     S&P: МОНГОЛ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛИЙГ ДЭЭШЛҮҮЛЭХЭД ТӨСВИЙН ҮЗҮҮЛЭЛТҮҮД ГОЛЛОН НӨЛӨӨЛӨВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/12     ИРГЭДИЙН АМЬДРАХ ОРЧНЫ АЮУЛГҮЙ БАЙДЛЫГ ХАНГАХ ЧИГЛЭЛЭЭР АНХААРАН АЖИЛЛАЖ БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/09     ГАЗРЫН ТОС 72.10 АМ.ДОЛЛАРЫН ХАНШТАЙ БАЙНА WWW.DNN.MN НИЙТЭЛСЭН:2018/11/09    

MPP defends scandal hit MP over SME fund www.news.mn

The public will be watching Mongolian Prime Minister U.Khurelsukh’s government for its reaction to massive allegations of misuse of its Small & Medium Enterprise Fund.

In 2009, the Mongolian government expanded a fund to support small and medium enterprises (SME’s). This provided companies with low-interest loans at 3 percent interest for up to five years and contained 2 billion Mongolian Tugrik (roughly USD 780,000 at today’s exchange rate). The fund is reported to have dispersed loans totalling nearly 700 billion tugrik, amounting to several hundred million U.S. dollars. The fund was created in and continues to be overseen by the Ministry of Food, Agriculture, and Light Industry.

However, many of the companies that received loans are tied to prominent politicians through ownership of the SMEs that benefited. The allegation led the current minister of food, agriculture, and light industry, B Batzorig, a member of parliament for the ruling Mongolian People’s Party (MPP), to offer his resignation. A specific allegation is that the minister’s wife had been directly benefiting from the SME fund. Last week, the chief prosecutor requested the State Great Khural (parliament) to revoke B. Batzorig’s parliamentary immunity, however, it refused to do so, It should be noted that the house is dominated by the MPP.



Published Date:2018-11-09