3,381.46
The head of the
National Development and Reform Committee (NDRC) has said there has as yet been
no response to the very recently published advertisement for a management team
to run The Development Bank. The last date for submitting a bid is November 22,
and the NDRC and the State Property Committee will make the choice then. The Bank
will provide finance for large development projects, including those in
infrastructure and processing factories.
The bank’s proposed capital will be at least MNT5 billion, 51% of which would
be from the Government and the rest will come from investors and donor
countries. It has been decided to have a team of international professionals to
manage the bank as there are not enough experienced Mongolian bankers. The
selection will be restricted to those with working experience in international
finance and the Executive Director should have a track record of ability to
attract investment from diverse sources.
National Development and Reform Committee (NDRC) has said there has as yet been
no response to the very recently published advertisement for a management team
to run The Development Bank. The last date for submitting a bid is November 22,
and the NDRC and the State Property Committee will make the choice then. The Bank
will provide finance for large development projects, including those in
infrastructure and processing factories.
The bank’s proposed capital will be at least MNT5 billion, 51% of which would
be from the Government and the rest will come from investors and donor
countries. It has been decided to have a team of international professionals to
manage the bank as there are not enough experienced Mongolian bankers. The
selection will be restricted to those with working experience in international
finance and the Executive Director should have a track record of ability to
attract investment from diverse sources.
