Ulaanbaatar Mayor S.Batbold issued decree to close down the City Economic Development Agency today (29^th August). According to new structure of city administration, the Economic Development Agency will no longer exist, its functions, documents and equipment being transferred to another department. Its employees, who are now laid off will receive a one- time allowance from the social insurance fund. M.Otgonbayar, who is chairman of the mayor's office, will be responsible for the progress of closing the agency.