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Cabinet presenting draft resolution on risk prevention measures regarding DB www.en.montsame.mn
Ulaanbaatar /MONTSAME/ The Development Bank (DB) of Mongolia, since its establishment in 2011, have been operating with active assets of MNT 7.0 trillion. During the course of its operation, the bank has financed some 2,000 projects, and has liabilities of MNT 5.9 trillion.
The liabilities balance exceeds the amount of assets. In accordance with the Law on Development Bang of Mongolia, the liabilities must not exceed the amount of equity multiplied by 50.
If the Development Bank fails to observe its duty before the law, the risk of the loan payables to be recalled before the agreed date can be higher. Therefore, in order to prevent from such risks, the cabinet approved the draft parliamentary resolution on “some measures towards the Development Bank of Mongolia”, and resolved on Wednesday to immediately submit to the State Great Khural.
Published Date:2016-12-08
