The “World Youth U-16 Chess Olympiad” starts today in Ulaanbaatar. The Olympiad, which has MNT 25 million in prize money, will continue until 29^th August. The President of the World Chess Federation Kirsan Ilyumzhinov has come to Mongolia for the event along with 150chess players and 50 officials from 19 countries. A total of 50 Mongolian chess players from 10 teams have finished their preparation for the Olympiad. The Mongolian Chess Federation has given real support to our players, for example by inviting the Russian chess coach, Grand Master Alexander Fomin to train our young players.