|
|
Cabinet held its regular session on Tuesday and approved the start of projects focused on child development and infrastructure.
Mongolia officially opened its international border on June 1. People in Mongolia will now be able to travel on direct and transit commercial flights to more than ten countries with open borders, including Turkey, the United States, the United Arab Emirates, Greece, Thailand, Indonesia, Brazil, Egypt, and India. More than 110 countries, including Russia, China, South Korea, Japan, and countries in the European Union, have partially or fully closed their borders and are allowing only citizens and permanent residents to enter.
The cabinet instructed the Mayor of Ulaanbaatar to terminate the land use rights of the organization operating the National Amusement Park if the land is found to be misused. The Prime Minister also said a green recreational area should be created through public-private partnerships to support children and youth development. Cabinet also approved the launch of other initiatives aimed at youth development, including the construction of the Children and Youth Theater and renovating state maternity hospitals.
|
|
Comprehensive engineering infrastructure to be built in 59 soums
|
|
|
During its regular session, Cabinet approved the Soum Development: Provision of Engineering Infrastructure project.
Through the project, 59 soums in 19 provinces will be provided with infrastructure to create more comfortable living conditions. The soums were selected based on their population, geographical location, social and economic development, environmental vulnerability, land capacity, and water resources.
Within the framework, the government plans to build infrastructure for drinking water, wastewater treatment facilities, power plants, trade and service facilities, and housing for up to 40 percent of soum residents by 2024.
The project is estimated to cost 238 billion MNT and will be financed annually through the state budget, foreign loans, and aid.
|
|
Total outstanding loans reached 17.5 trillion MNT in April
|
|
|
In April, outstanding loans at Mongolia’s commercial banks increased by 2.9 percent year-on-year to reach 17.5 trillion MNT.
Loans to enterprises decreased by 0.5 percent year on year, while loans to individual borrowers increased by 2.2 percent. Foreign currency loans accounted for 10.8 percent of all outstanding loans, and 11.4 percent were non-performing loans, decreasing by 26.4 billion MNT from the previous month. Overdue loans accounted for 7.3 percent of all outstanding loans.
|
|
Aspire Mining identifies high-quality coking coal at the Ovoot deposit
|
|
|
Australian-listed Aspire Mining has announced that it has identified high-quality coal from the Ovoot deposit. The results of their findings will be confirmed in cooperation with technical organizations in China and Russia. Demand for high-quality coking coal in China continues to grow, as reported by SXCoal.
The company holds one mining license and two exploration licenses for the Ovoot project in Khuvsgul Province. It also owns 90 percent of the Nuurstei project.
|
|
|
|
|
|
|