The World Bank’s Board of Executive Directors today approved a USD 20 million IDA credit facility for the Mongolia Emergency Support and Employment Support Project. The project will provide temporary relief to eligible workers and employers in response to the

The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of USD 100 million to help Mongolia battle the coronavirus pandemic, the bank said on Friday.

The project, cofinanced by the Asian Development Bank, will support a government program covering

Mineral-rich Mongolia’s first oil refinery is under construction in the southeastern province of Dornogovi, with an expected commissioning date for late 2022.

At present, all the oil which is extracted, is exported to China. In the first half of 2020, Mongolia

Due to the COVID-19 pandemic, developing countries have been economically very badly hit. Falling export revenue and capital outflows from emerging markets has reached an estimated USD 100 billion, this is compounded by falling rates of international currencies by 10-30

Mongolia has halted uranium explorations in three soums (districts) of the Dundgobi Province after the Gurvansaikhan Company failed an inspection conducted by a working group from the Metropolitan Professional Inspection Department and nuclear and radiation experts. It was discovered that

Mongolia’s exports of coal for all applications in May doubled from April to nearly 2.2 million tonnes, despite being 40.9% lower on year, according to recent data from Mongolia’s Customs. As concerns about the COVID-19 pandemic eased in the country,

Applications for Mongolian unemployment benefits have increased due to the pandemic closures. The number of registered jobless people increased by 10.6 percent in January-May, 2020 compared to same period last year. In addition, the number of active job seekers increased

Due to the COVID-19 pandemic, Mongolian economy is frozen as many businesses had to close in order to prevent the spread of the coronavirus infection. The budget deficit sharply rose in the first five months of 2020 amid spending increases