Finance Minister S.Bayartsogt informed the Standing Committee on Economics on Tuesday that the Development Bank (DB) is planning to issue bonds worth USD 60 by the end of the year.

The government has asked the DB to finance the USD 55 million “New Railway” railroad building project.

The DB had planned to issue bonds worth USD 20 million on the Singapore Stock Exchange from last spring, but the bank’s managing officials delayed the issue due to instability in the global financial markets.

The rate of the bonds is seven percent, which the head of the Representative Managing Council, B.Batjargal, said is low.

The DB plans to issue more bonds next spring.