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, or 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.

Last week, the chief prosecutor requested the State Great Khural (parliament) to revoke the parliamentary immunity of B. Batzorig’s, who runs this ministry – and, thereby the fund itself. However, the Khural, which is dominated by the MPP refused to do so.