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DAILY NEWS WIRE
November 3, 2021
Prime Minister L. Oyun-Erdene met with former Mongolian PMs 

Prime Minister of Mongolia L. Oyun-Erdene held a meeting with former Prime Ministers of Mongolia on November 1, 2021.
During the meeting, the Policy Council of Prime Ministers was established to provide support to the active prime minister in implementing Mongolia's long-term development policy and to make recommendations based on research and analysis of socio-economic conditions. 
The council will exchange views on the country’s social and economic issues and will be chaired by Prime Minister L. Oyun-Erdene and former Prime Minister J. Erdenebat.
Mongolia to cooperate with ADB in the renewable energy sector

President of Mongolia U. Khurelsukh held a meeting with President of Asian Development Bank (ADB) Masatsugu Asakawa during the 26th UN Climate Change Conference (COP26) in Glasgow. 
President U. Khurelsukh expressed his willingness to introduce international best practices to implement green development policy in Mongolia and to cooperate with ADB in the renewable energy sector.   
ADB President Asakawa stated that ADB will support Mongolia’s green development policy, proposals, and initiatives, and highlighted that ADB has agreed to significantly increase funding to combat climate change and ecosystem degradation.  
During the meeting, the parties exchanged views on cooperation between Mongolia and ADB, priorities for cooperation, and projects and programs to be implemented.
BoM provides mortgage loan program updates
The Bank of Mongolia (BoM) reported that in the first nine months of 2021, a total of 787.2 billion MNT was disbursed through the Bank of Mongolia and commercial banks under the government’s preferential mortgage loan program. 
The BoM planned to allocate 40 billion MNT in loan financing to commercial banks in October and November 2021, and commercial banks will increase their own resources by 26.7 billion MNT to provide a total of 133.4 billion MNT in financing for the subsidized mortgage loan program.
In 2021, an average of 87.9 billion MNT was disbursed per month, according to the Bank of Mongolia. 
SouthGobi Resources suspends coal mining operations
SouthGobi Resources has announced it will be temporarily suspending coal mining production in order to reduce the financial impact of disruptions from the closure of Ceke Port in Inner Mongolia.
The company plans to continue selling its reserves to China despite disruptions and stated that the company has the reserves to meet the demand for four months. 
SouthGobi Resources' coal sales reached 100,000 tons in the second quarter of 2021, down 400,000 tons from a year earlier.
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