Mongolia Brief March 27, 2014 Part II

Mongolia to cooperate with South Korea special protection sector

Ulaanbaatar, March 27 (MONTSAME) South Korean delegation led by Mr Park Bo Hwan, a head of department for special protection area, are visiting Mongolia March 25-28 in frames of the cooperation between the Ministries of Environment of Mongolia and S.Korea.

An agreement on sisterhood special protection area creation was made between administration offices of Khan Khentii strictly protected area and the Seoraksan National Park of S.Korea. It has been inked by B.Tulga, the Deputy Minister, and Mr Park under a cooperation memorandum between the ministries.

By this the sides intend to protect biological species and animals listed in Red Books of the two countries in protected areas, to run scientific researches, to improve ecology education of inhabitants.   

Furthermore, the sides will develop together eco-tourism, run trainings, share experience and assist each other by hi tech. 

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“Smart Ulaanbaatar” program approved

Ulaanbaatar, March 27 (MONTSAME) A meeting of the Citizens Representatives Khural of the capital city discussed and then approved a “Smart Ulaanbaatar” program on Thursday.

The program was put forward following the ‘From Big Government to Smart Government’ initiative of the President of Mongolia Ts.Elbegdorj. It will be implemented in the UB city with missions to make it ‘smart’ and modern by introducing development tendency and advanced technological solutions and innovations of new-era metropolises.

The program consists of six main parts designated to cultivation of smart urban tendencies for governance, economy, residents, services, environment and lifestyle.

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IFC to Support Mongolian Banking Sector

Ulaanbaatar, March 27 (MONTSAME) International Finance Corporation (IFC), a member of the World Bank Group, has partnered with Mongolian Bankers Association to introduce and implement sustainable banking practices to help financial institutions improve their environmental and social risk management, and contribute to greener and equitable economic growth.

It was reported at ifc.org- IFC’s official website on Tuesday.

IFC will support the Mongolian Bankers Association’s plan to develop the Mongolian Sustainable Banking Principles and industry guidelines by mid-2015. The guidelines will be based on international benchmarks such as the IFC Performance Standards, the World Bank Group Environmental, Health and Safety Guidelines, and the Equator Principles, a credit risk management framework for determining, assessing and managing environmental and social risk in project-finance transactions. IFC will also help build capacity in local banks, consulting firms, and training institutions to achieve this goal.

"The partnership with IFC is part of ongoing efforts by Mongolian banks to contribute to green and inclusive economic development in Mongolia,” said Norihiko Kato, Vice President of the Mongolian Bankers Association. “With help from IFC, the association will provide technical resources and knowledge to help our members improve their sustainable banking systems and products.”

The Mongolian Bankers Association is a self-regulated professional body initiated by 13 commercial banks, one development bank, four financial and non-financial banking institutions, and three foreign bank representative offices. Its vision is to lead the banking and financial sector in supporting the sustainable development and equitable economic growth of Mongolia.

"The project will enhance risk management and expand lending to socially and environmentally friendly projects. This will help generate real results toward greener growth,” said Tuyen D. Nguyen, IFC Resident Representative in Mongolia. “IFC’s experience globally and in Asia has demonstrated a strong business case for sustainable banking.”

In addition to investments across multiple sectors in Mongolia, IFC is supporting this sustainable finance initiative through the Environmental and Social Standards for Financial Institutions Program in East Asia and the Pacific. The program provides advice to help improve the environmental and social sustainability of banks in China, Indonesia, Mongolia, the Philippines, Thailand, and Vietnam.

Mongolia – well-known for its rich natural resources – is committed to a low-carbon development path. Mongolian banks have been discussing sustainability issues with other stakeholders such as government agencies and corporate, it says. Last November, 14 of the lenders publicly declared their commitment to promoting sustainable banking practices in the country.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges.

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Business women to hold meeting

Ulaanbaatar, March 27 (MONTSAME) The Council of Businesswomen at the Mongolian National Chamber of Commerce and Industry (MNCCI) will hold its meeting on Friday.

The commercial Xas Bank will participate in the forthcoming meeting as a sponsor and will introduce to the business ladies its activities and new services such as “Xas” loyalty programme and a “Businesswomen” project. A deputy director of the MNCCI M.Oyunchimeg will deliver a speech as well.

Following the speeches and reports, a new head of the Council will be elected. 

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Stock exchange news for March 27

Ulaanbaatar, March 27 (MONTSAME) At the Stock Exchange trades held Thursday, a total of 32 thousand and 174 shares of 11 JSCs were traded costing MNT 20 million 167 thousand and 134.00.

"Hermes center" /15 thousand and 987 units/, "Remikon" /11 thousand units/, "Tavantolgoi” /2,814 units/, "Hai Bi Oil” /1,208 units/ and "Genco tour bureau" /878 units/ were the most actively traded in terms of trading volume, in terms of trading value--"Tavantolgoi" (MNT 14 million 526 thousand and 770), "Hermes center" (MNT two million 565 thousand and 907), "Remikon" (MNT one million and 650 thousand), "Gobi" (MNT 564 thousand and 200) and "Hai Bi Oil" (MNT 422 thousand and 800).

The total market capitalization was set at MNT one trillion 642 billion 051 million 478 thousand and 710. The Index of Top-20 JSCs was 16,361.71, decreasing by MNT 58.95 or 0.36% against the previous day.

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Bloomberg Mongolia TV Awards organized

Ulaanbaatar, March 27 (MONTSAME) The Bloomberg TV Mongolia organized Tuesday the Bloomberg Awards 2013 in the “Blue Sky” tower in Ulaanbaatar for selecting prominent individuals and enterprises in Mongolia’s social and economic development and in implementing the best programmes and projects.

The news was published Wednesday on the infomongolia.com website.

Candidates and programmes were selected in eight nominations, namely top innovation of the year, outstanding achievement, top manager, economist, executive director, the best management, enterprise as well as audience award.

The digital property registration system invented by the IT Zone company was named as the best innovation of the Year. This system has been installed in property registration offices at nine districts of the city by connecting with 11.5 thousand meters long fibre optic cable. In addition to this, 12 million paper documents have been converted into an electronic form file archive and a data center of integrated online system has been established.

The “Mortgage Loan” programme was named as the outstanding achievement of the year. Over 30 thousand households have been involved in low-interest loans and provided with houses thanks to the programme.

Director-general of the “Platinium Gate” B.Bayarsaikhan was named as the best manager the year, whereas an executive director of the TDB Capital and CEO of the Trade and Development Bank of Mongolia (TDB) O.Orkhon—named as top economist.

President and CEO of the “Gobi” Corporation Ts.Bayarsaikhan has been named as the best executive director; and director of the “Erdenes MGL” LLC O.Sainbuyan received the best management award.

“APU” company was selected as the company of the year. Moreover, “From big government to smart government” programme initiated by the President Ts.Elbegdorj received the Audience Award.

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"Motherland" exhibition opens

Ulaanbaatar, March 27 (MONTSAME) Mongolian Foremost Cultural Worker and "Polar Star" awardee artist Ts.Mongol opened a solo exhibition named “Motherland” at the Fine Arts Zanabazar Museum on Wednesday.

This exhibition is displaying 72 paintings which show Mongolian beautiful nature and brave soldiers.

His first exhibition was opened in 1993, then he displayed joint galleries in Niigata prefecture of Japan and in Russian Irkutsk in 1994.

The above exhibition will work until March 29.

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