The Asian Development Bank (ADB) has approved a USD-100-million (EUR 92.5m) loan to support the installation of a 125-MW advanced battery energy storage system in Mongolia.

The project is calculated to cost USD 114.95 million in total. Of this amount, USD

The World Bank’s Board of Executive Directors have approved USD 53 million in financing for the Ulaanbaatar Heating Sector Improvement Project and additional financing for the Third Sustainable Livelihoods Project.

The USD 41 million Ulaanbaatar Heating Sector Improvement Project will finance

Mongolian cashmere sector exports have increased by 30 percent since a new national programme was approved by parliament in 2018. According to Ch.Ulaan, Minister of Food, Agriculture and Light Inductries, more than 1600 jobs have been created in the cashmere sector

The Mongolian National Chamber of Commerce and Industry is planning a big demonstration on International Workers’ Day (1 May) involving all sectors of the economy. The event aims to force the Mongolian Government to take efficient measure to preserve jobs

Due to the coronavirus restrictions, Mongolia as, so far, failed to fulfill its oil exploration and exports plan for 2020. As of 15 April, the country extracted 65.4 thousand tonnes of crude oil; 46.1 thousand tonnes of which were exported

The National Statistics Office has reported the social and economic statistics of Mongolia since the country turned to democracy thirty years ago. Since 1990, the labour force has increased from 860.1 thousand workers in 1992 to 1 million 273.9 thousand

Rare Metal Mining, a company based in Mongolia, has discovered large gold and copper ore bodies near Oyu Tolgoi, according to a recent statement issued by the company.

The company recently signed a joint venture with MarketPeak and Rare Metal Mining

Earlier today (20 April), Mongolian Finance Minister Ch.Khurelbaatar made a statement to clear up some public misunderstandings over social tax exemptions for six months. According to his statement, almost all companies in Mongolia, including those experiencing even a slight decline