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Tuesday, June 21, 2016
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ASEM Consultative Meeting on Food and Security starts today in Ulaanbaatar
June 20 (gogo.mn) ASEM Consultative Meeting on Food and Security, side event of the 11th ASEM Summit, takes place in Ulaanbaatar on June 20-21.
The two day event is expected to be attended by delegations of governmental and non-governmental institutions overseeing food and agriculture issues from 17 member countries of ASEM, as well as representatives of embassies and consulates in Mongolia, the European Union, and other 11 international organizations carrying out projects in food and agriculture sectors.
The meeting will emphasize on improving food supply in the ASEM member countries by speeding up agricultural production, promoting state and private sectors' cooperation, and effectively regulating national and regional policies.
ASEM Consultative Meeting on Food Security will have three main agendas:
- Food production
- Food security / food safety
Also discussions on Asia-Europe regional food supply and trade, transportation, as well as logistics, climate change and food security will be held.
WOF trading +13.3% early Tuesday after falling 37.5% on Monday
Wolf Petroleum Issues First Tranche of Shares to New Strategic Partner
June 20, Wolf Petroleum Ltd. (ASX:WOF) --
FMG Funds: Mongolia - Back in the Limelight
June 20 (FMG Funds) We have seen positive development in Mongolia lately and hopefully this could be a turning point for the stock market. Mongolian assets have been in a bear market for almost 5 years. The FMG Mongolia fund has been cautiously positioned holding cash to preserve capital, but it has been a rough ride for investors. Things are looking brighter now that commodity prices have strengthened, and progress is underway in Mongolia´s world class Oyu Tolgoi copper mine. This week a popular takeover rumor in the mining sector was back in the limelight. Britain's Sunday Times reported that Goldman Sachs are studying a potential privatization of Turquoise Hill Resources – the majority shareholder in the Oyu Tolgoi mine. The market has been anticipating a bid coming from parent company Rio Tinto. Turquoise is the single largest position in the Fund, and so far the stock has rallied +13% on the news. The mine is expected to make up roughly 30% of Mongolia´s GDP once fully developed.
TRQ closed +3.63% Monday to US$3.43
Turquoise Hill CEO: Lots of Interest in Oyu Tolgoi
June 17 (Bloomberg TV Canada) Jeff Tygesen, CEO of Turquoise Hill Resources joins Bloomberg TV Canada's Danielle Bochove to discuss investor interest in the Oyu Tolgoi mine.
Turquoise Hill Stock Gains on Push for Gobi Riches - Bloomberg TV Canada, June 17
Templeton Emerging Markets Income Fund Falls 1.7% Since November, Mongolia Allocation Remains 1%
MSE Trading Report: Top 20 +3.8%, ALL +2.34%, Turnover ₮76.5 Million Shares, ₮4.8 Million T-Bills
June 20 (MSE) --
BDSec Most Active Broker Last Week, Market Cap Down 0.31% to ₮1.39 Trillion
June 20 (MSE) Mongolian Stock Exchange organized 5 securities trading sessions and made transaction of MNT8.0 million with daily average transaction of MNT40,260,602.80 in period between 13 June 2016 and 17 June 2016.
34,097.00 shares of 31 joint stock companies worth of MNT40,260,602.80 were traded.
Most actively traded securities
Most active brokerage companies
As of 17 June 2016, market capitalization was MNT1,385,518,972,424.42 which indicated decreased of 0.31% and MSE ALL index reached 830.92 units which indicated decreased of 0.42% from the previous week.
APU, Suu Trading Resumed After Share Split
June 20 (MSE) According to the enforcement letter No.:49 of state inspector of Financial Regulatory Commission dated 20 June 2016, the trading of "APU" JSC and "SUU" JSC have been resumed from halt.
FRC Reinstates Standard Investment's Brokerage Rights
June 20 (MSE) According to the Resolution No.:203 of Financial Regulatory Commission of 2016 and Order No.: 238 of CEO of Mongolian Stock Exchange, the trading rights of "Standart Investment" LLC has been reinstated from 17 June 2016.
Historic low ₮2,050.85/USD set March 28, 2016. Reds are rates that set a new low at the time
BoM MNT Rates: Monday, June 20 Close
MNT vs USD (blue), CNY (red) in last 1 year:
BoM issues ₮140.7 billion 1-week bills at 10.5%, total outstanding +46.1% to ₮323.15 billion
June 20 (Bank of Mongolia) BoM issues 1 week bills worth MNT 140.7 billion at a weighted interest rate of 10.5 percent per annum /For previous auctions click here/
BoM Monthly Statistical Bulletin, May 2016
June 20 (Bank of Mongolia) --
Election preparation intensifies
June 20 (news.mn) The General Electoral Commission has informed that the operations to print the ballot papers, check the counting machines and deliver them are now in the final stage.
So far, seven provinces including Bayan-Ulgii, Govi-Altai, Zavhan, Uvs and Khovd have received the ballot papers and counting machines. The printing and delivery of the remaining ballot papers and counting machines is scheduled to be completed by 20th June.
The observers of the working team, political parties, alliances and NGOs are monitoring all aspects of this process.
Changing address possible after Election Day
June 20 (news.mn) Only ten days remains until the election. On this occasion, the 150,000 Mongolians who are living abroad will not be able to vote. Currently in Mongolia, there are 2,004,048 people eligible to vote.
In accordance with the Electoral Law, the right of individuals to change their official address was stopped on 31st April. This right will be reinstated on 30th June – the day after the election. The Electoral Law (Provision 66) rules that prohibiting the change in a person's address is only legal during parliamentary, presidential and local elections.
Cabinet approves program to promote capacity building at home and abroad
Ulaanbaatar, June 20 (MONTSAME) At the Monday's regular meeting, cabinet approved "Good Trainee" program, which aims at capacity building of professionals through providing them with opportunities to receive consistent education and training at home and abroad.
Minister of Labor G.Bayarsaikhan was assigned to manage financing of the program in coordination with the foreign aid and programs.
Sub-programs will be implemented depending on the host countries and field of study. Graduates of universities, vocational training institutes and polytechnic colleges who aged 18-39 are eligible for the program.
Cabinet approves rail transit transport agreement with Russia
Ulaanbaatar, June 20 (MONTSAME) In backing Monday a draft Mongolia-Russia intergovernmental agreement on terms for rail freight transit transportation, the cabinet authorized the Foreign Minister to sign the agreement.
It is expected that the agreement will be signed during the Shanghai Cooperation Organization (SCO) Summit to be held June 23-24 in Tashkent, Uzbekistan.
When signed, the document will allow Mongolia and Russia to pursue a flexible policy on the railway transportation through their territories, and will ensure a tariff competitiveness of railway transportation for a longer period. Plus, the agreement has a significance for facilitating the process of passing freight through the national borders and creating a favorable condition for transporting freight to seaports in smoother manner.
Cabinet approves land exploitation agreement with U.S. Embassy
Ulaanbaatar, June 20 (MONTSAME) --
- The cabinet meeting charged Monday Brigadier-General T.Badral, head of the National Emergency Management Agency (NEMA), to ensure implementation and observance of the basic rule of fire safety.
- Chief of the Secretariat for Government S.Bayartsogt presented a report on settling petitions and requests from people which were addressed to officials of state administrative bodies through the "11 11" center in the first half of this year.
- The cabinet approved results of the 6th meeting of the Mongolia-Austria intergovernmental commission for the economic cooperation held on June 23, 2016 in Vienna. The Minister of Mining R.Jigjid was tasked to adopt a plan of follow-up actions and to monitor the implementation.
- The cabinet adopted a Mongolia-USA intergovernmental agreement on land exploitation for the US Embassy in Mongolia, which was signed on June 3 in Ulaanbaatar.
- The cabinet reviewed results of the official visit of John Kerry, the US Secretary of State, to Mongolia on June 5, and then ordered the Foreign Minister L.Purevsuren to approve a plan of follow-up actions, and to make certain its implementation.
- The cabinet reviewed results of the President's visit to the Republic of Korea hosted on May 18-20, which will be submitted to the National Security Council (NSC).
Civil Society Perspective on State's Role in Large Resource Projects
ICF Workshop "State's Role in Large Resource Projects" – Perspectives of Civil Society
By Bilguun Nandinbilig
June 19 (Mongolia Focus) When Ts Munkhbayar, was awarded the Goldman Environmental Prize, he was interviewed by Anthropologist Bumochir Dulam. He explained a truthful reason to come to the parliament house with a weapon, which was to be shot, not to hurt or punish somebody. His extreme activities illustrate how civil society is willing to catch the public eye on some mining companies that do not care about the environment and local people's living. The mining sector, where a quarter of GDP of Mongolia comes from, is obviously the most influential one to the country's economy because of beneficial market location and rich reservoir.
The interest of three main corners, which are government, operation, and civil society, should be balanced.
The topic of Panel 5 at the Mining Governance Workshop was "Perspectives of Civil Society" and it was observed from the content of discussion that existing attitude of relation among 3 stakeholders has a tendency to be suspicious or trying to find negative side from each other. Moreover, sometimes they accuse or name each other as "treason" as Mr. Tur-Od mentioned. In other polite words, it could be determined that civil society has the aim to monitor the other stakeholders. Mr. Abdrakhmanov Saginbekov, Vice president of Kyrgyzaltyn JSC, said "There is a tendency to believe more in civil society organizations rather than the government among the people. If civil society organizations fight for people, they should be supported without any doubt." In fact, seventy percent of 28,000 NGOs, 7,000 of which run actively in Mongolia, is funded by foreign organizations. Therefore, there may be some conflict of interest or imposed views from funding parties. If civil society organizations raise their funds from public donations or support and publish their expenditures open, it would be an ideal system.
On the other hand, it is an institutional industry, since 25,000 people work for NGOs, half of whom are women, and it is beneficial in terms of creating employment, paying tax or payroll, and so on. For example, the Ongi River Movement, which is founded by Ts Munkhbayar, raises funding by themselves by planting sea buckthorn trees and herding livestock. In addition, we need to remember that any professional association belongs to civil society. The professionals of this sector have already started to create associations in the institutional way to deliver their voice to decision makers, which is one good practice.
The Mongolian government has become more pro-active in setting regulations and refining existing legislation which used to contradict each other. Their relevance goes well beyond each level of state and a private sector. One of them is Glass Account Law (Budget Transparency Law), which states that each transaction of state organizations above MNT 5 million (~US$2,500) will be disclosed. Also, there are several NGOs running to make awareness of transparency to other organizations. This initiation has created a data base for any statistic of budgets and expenditures of organization and it leads to the net positive impact on their responsibility. The conclusion agreed all delegates and panelists was that the three corners need to realize they have shared values which they all fighting for and to support each other instead of seeking the worse from each other.
About Bilguun N
Bilguun (Bill) Nandinbilig is a Master's student at the Norman B. Keevil Institute of Mining Engineering of the University of British Columbia. His research interests are Mining economics and finance, and Sustainable development. He is working for Oyu Tolgoi Mine as a mining engineer in Mongolia.
Jargal DeFacto: Stop Zaisan-ing the elections
By Jargal "DeFacto" Dambadarjaa
June 19 (UB Post) Having lost their sense of shame, politicians today are willing to do absolutely anything to retain their power and positions. They passed a law that prohibits distributing cash during elections, however, they break the same law and speak as if they haven't, as long as whatever plan they've devised serves their interests.
This practice has been repeated by Ch.Saikhanbileg's government. Since it is a phenomenon normal only in Mongolia, we can use the term "Zaisan-ing", which refers to a prime example of this practice. When the Mongolian People's Party (MPP) had ruling power, their senior leaders gave away Zaisan's mountain pass, then Yarmag Hill, and eventually, the 2012 parliamentary elections.
We – the people – are well aware of this, and how they used public assets to their own advantage. Instead of putting an end to these corrupt acts, the Democratic Party (DP) is now replicating them by distributing cash ahead of the 2016 elections.
In 2012, then Prime Minister S.Batbold and Deputy Prime Minister N.Altankhuyag announced that the coalition government, dragged forward by the MPP with the DP tailing behind, decided to let the Mongolian people own 10 percent (1.5 billion shares) of the Tavan Tolgoi mine.
They delivered the news with such excitement, saying that Mongolians, who were able to own their animals, apartments, and jobs after 1990, were being given the opportunity to own their natural resources with these shares. However, the underlying reason for distributing the shares had nothing to do with justice or equity. They only did it because the DP promised to give every citizen a million MNT in the 2008 elections, whereas the MPP was promising a thousand USD for each citizen.
With the next election looming, they first devised this scheme to distribute shares because they did not know where to find such a great amount of money. The original plan was to give each of Mongolia's 2.7 million people 536 shares of Erdenes Tavan Tolgoi (1.5 billion shares in total). Parliament had previously made the decision to let domestic businesses own another 10 percent of the shares.With this news, the number of registered businesses in the country rose instantly, and it got to the point where one person owned 32 companies. Unable to figure out how to distribute the shares to these businesses, the government decided to distribute 20 percent of the shares to the people, meaning that every citizen was to receive 1,072 shares.
The MPP and DP learned their lesson and made a law that banned candidates from handing out cash during elections. However, they found a way to Zaisan that law by distributing shares before the 2012 elections. The government's decision on share distribution was announced on May 1, 2012, just before the elections. Subsequently, the government bought shares from some people.
A total of 464.8 billion MNT was given to 1,216,000 people, which included pensioners, students, and people with disabilities. Buying votes with cash is a classic scheme to win an election in a developing country, where most of the people are concerned about putting food on their table day to day. In 2012, the DP won 31 seats in the government and the MPP won 25 seats. The DP ended up establishing a coalition government with smaller parties.
This year, on June 9, Mongolian Prime Minister Ch.Saikhanbileg announced that the government had decided it would help people convert their 1,072 shares of Erdenes Tavan Tolgoi into cash – only 20 days before the elections. If we exclude the people who sold their shares previously, and those under the age of 18, there are 1,650,000 people who have not yet converted their shares into cash.
The government announced that they will first buy 322 shares, 30 percent of the 1,072 shares people hold, for 300,000 MNT. This time the government reached an agreement with Mongol Bank to issue 400 billion MNT in bonds to sell to commercial banks. In other words, they are taking out a loan to buy the shares back. The process of selling and buying shares started last Monday.
Commercial banks were full of customers who queued on the street. When the banks closed on Monday, a total of 185,000 people applied to sell their shares. The government promised to transfer the money in a week's time. There was big news on social media that DP members were providing countryside people with transportation so that they could get to a bank to fill out the form.
Our Prime Minister Zaisan-ed it, saying, "There is no need to link the converting of shares into cash to the elections. It is not a matter of distributing cash. The shares are being bought. In other words, it is a matter of making a payment. Everything will be done within legal boundaries.
At this time of economic hardship, the government converting people's 1,072 shares into cash will have a positive impact on the economy." If that is the case, why would they not do it after the elections? If you do not call it distributing cash, what else can you call it?
SHARES AND FAIR DISTRIBUTION OF WEALTH
Natural resources are not created by anyone, but by nature itself. Therefore, every Mongolian deserves to receive benefits from natural resources, including the Tavan Tolgoi deposit. In this case, fair distribution refers to those who have executed the project receiving adequate profits and distributing the rest to everyone in a fair manner. What is not fair is the government making a campaign effort in the name of distributing natural resources fairly. Buying Erdenes Tavan Tolgoi shares has now become a routine action taken during an election cycle.
Erdenes Tavan Tolgoi is a state-owned company, and the real value of its shares is supposed to be estimated only after they are sold through a stock exchange. When the shares are first offered on the stock exchange through an initial public offering (IPO), their value may be higher or lower than their initial price.
The value of shares like these depends on many factors, such as deposit resources, commodity prices, the location of the deposit, access to the market, company debt, company management, and pressure from the government. Shares are offered on a stock market to raise capital, not to buy votes like the Mongolian government does. Politicians are now determining the value of the shares themselves, and are mocking the public in this effort to win the elections.
Shares of any company are bought back with profits made from operations. However, the Mongolian government is buying non-existent shares with non-existent money by taking out a loan. How would you feel if they took your wallet and distributed the cash in it to other people? How do you see the government, who is taking out a loan on your behalf, but not asking you first? When the time to repay the debt comes, where will we find these people who took on the debt? Politicians only care about getting elected and are not concerned with debt that has to be paid in the future. It is now impossible to hold them accountable for their actions. The MPP and DP must stop Zaisain-ing and should be ashamed of embezzling for the elections. Mongolia needs a brand new political force today.
Cabinet discusses draft investment agreement with Marubeni on TT Power Plant
Ulaanbaatar, June 20 (MONTSAME) On Monday, cabinet considered the draft Investment Agreement of the Tavantolgoi Power Plant, which was prepared by the working group headed by Minister M.Enkhsaikhan. The cabinet assigned corresponding officials to prepare signing of this agreement with the selected investor, Marubeni Corporation of Japan.
Marubeni has been selected as the key investor in the project that requires total of USD 1 billion investment, 30% of which will be provided in a form of the direct investment from the key investor and 70% is to be raised from international banks and financial institutions.
Tavantolgoi power plant is designed to have 450 MW per annual capacity, with Oyu Tolgoi as the main consumer.
Mongolia plans to increase greenhouse farming 50% to 6,000 tons
June 20 (UB Post) The Ministry of Food and Agriculture reported that this year the ministry plans to increase greenhouse farming throughout the nation to see yields of 6,000 tons in domestically grown fruits and vegetables.
The ministry believes that by developing winter greenhouse farming, Mongolia will be able to produce cucumber, tomato, peppers, strawberry and other produce beyond summer growing seasons, and replace around 20 percent of vegetables and fruits currently being imported.
Last year, Mongolia harvested around 4,400 tons of vegetables from greenhouses, approximately six percent of domestic vegetable consumption. The ministry reported that there are around 1,000 entities and individuals engaged in greenhouse farming, over 100 of which are located in Ulaanbaatar and Tuv Province.
A total of 150 entities requested 311.5 billion MNT in loans for greenhouse farming projects, and 27.3 billion MNT in financing has been issued to entities from Chinggis Bond funds.
Mongolia signs cooperation letter with Chilean Copper Commission
Ulaanbaatar, June 20 (MONTSAME) The Mongolian Ministry of Mining will cultivate cooperation with the Chilean Copper Commission (Cochilco).
A letter of intention on the cooperation has been signed by Ch.Sosormaa, the Non-Resident Ambassador of Mongolia to Chile; and Alex Matute Johns, Cochilco's head, the Mongolian Ministry of Foreign Affairs reported Monday.
Following the signing ceremony, the Ambassador exchanged views with Aurora Williams, the Chilean Minister of Mining on activating the bilateral cooperation in the mining industry.
The sides reached agreements to boost the mining cooperation, especially in the copper sector, to exchange experiences and information and to introduce new technologies. The countries will realize a joint program after identifying priorities in the mining sector cooperation as well.
New Ambassadors of Italy and India present their credentials to President Elbegdorj
June 20 (UB Post) Ambassador Extraordinary and Plenipotentiary of Italy to Mongolia Andrea De Felip and Ambassador Extraordinary and Plenipotentiary of India to Mongolia Suresh Babu presented their credentials to President of Mongolia Ts.Elbegdorj last Friday.
After the credentials presenting ceremony, the Mongolian President received the ambassadors to discuss and exchange views on cooperation and relations.
Beginning his meeting with the Italian ambassador, President Ts.Elbegdorj congratulated Ambassador De Felip for being appointed the first Resident Italian Ambassador to Mongolia and wished him good luck in his work.
The President noted that opening an embassy in Ulaanbaatar means that Italy places great importance on its relations with Mongolia, and underlined that Mongolia will also prioritize its relations with Italy.
Ts.Elbegdorj noted the President of the Italian Senate Pietro Grasso's visit to Mongolia held in April, and said that the meeting was the first high-level meeting to Mongolia paid by an Italian official. He also said that he hopes that the President of Italy will participate in the Asia-Europe Meeting Summit.
The Italian Ambassador said that he will make an effort to expand and develop cooperation between Mongolia and Italy. President Ts.Elbegdorj emphasized cultural cooperation between the two countries, and said that Mongolia plans to organize a broad scope of cultural events in 2020 on the occasion of 50th anniversary of diplomatic relations between Mongolia and Italy. He asked the Italian Embassy to actively cooperate in organizing the events, and noted that the Ministry of Foreign Affairs and the Office of the President will support the activities of the Italian Embassy in Mongolia.
At his meeting with the Indian Ambassador to Mongolia, President Ts.Elbegdorj said that he was happy and satisfied that the mutual cooperation and relations between the two countries, based on culture, historic ties, and common values of democracy, are successfully expanding.
The President noted that the number of mutual high level visits by the country's leaders has increased in recent years, and said that he was happy that defense cooperation between Mongolia and India is strengthening.
President Ts.Elbegdorj emphasized that the signing of a one billion USD concessional loan agreement between the two countries governments guarantees a broad scope of cooperation and relations between Mongolia and India. "This shows that the Government of India wants to support Mongolia's social and economic development, and guarantees friendly relations between our nations," the Mongolian President noted.
Ambassador Babu said that he was also satisfied that relations between the two countries are intensively developing to a high level, and underlined that he will work toward strengthening relations in the future.
Ambassador of Italy presents diplomatic credentials – Montsame, June 20
New ambassador of India presents credentials – Montsame, June 20
Ambassador of India presents diplomatic credentials – gogo.mn, June 20
Taiwan minister wants to retain obscure agency in charge of Mongolia and Tibet
Taipei, June 20 (CNA) Minister without Portfolio Lin Mei-chu said Monday that the Mongolian and Tibetan Affairs Commission (MTAC), which she heads, should be retained but can be merged with other government departments.
In a legislative hearing on the fate of the ministry-level MTAC, Lin noted that the ruling and opposition parties have agreed it should either be dissolved or integrated into some other government agencies.
Her position on the contentious issue, she said, is that the MTAC should be absorbed by other departments. One agency that has been suggested in the past is the Mainland Affairs Council, which handles Taiwan's relationship with China.
Originally a bureau under the interior ministry, the MTAC was elevated to its current level in 1928 -- when the Republic of China (ROC) government still ruled mainland China -- to deal with Mongolian and Tibetan affairs. Unlike provinces dominated by a mostly Han population, Mongolia and Tibet are both designated a "region" under the ROC Constitution.
The ROC Constitution, which was promulgated in 1947, recognized Mongolia as a separate country after it gained independence through a plebiscite in 1945.
Taiwan's ruling Democratic Progressive Party (DPP) has argued that it is "no longer necessary" to have a commission to deal with matters relating to Mongolians and Tibetans since Mongolia is now an independent country and Tibet is seeking to gain similar status.
The MTAC was discussed Monday in a hearing of the Legislature's Internal Affairs Committee, which was held on the one-month anniversary of the new DPP government.
Ulaanbaatar Dialogue gathers North and South Koreas at one desk
June 20 (MONTSAME) Learning experience of the Helsinki Accords or Helsinki Declaration on an attempt to improve relations between the Communist bloc and the West, the President of Mongolia Mr Elbegdorj put forward the Ulaanbaatar Dialogue on security in Northeast Asia during the 7th Ministerial Conference of the Community of Democracies held in 2013 in Ulaanbaatar.
The 3rd international conference on the Ulaanbaatar Dialogue successfully took place on June 16th and 17th in Ulaanbaatar, in which some 150 delegates including officials from both North and South Koreas have participated. The conference also gathered delegates from 13 countries including Russia, China, USA and Japan.
Apart from the Korean Peninsula issues, the participants emphasized that Mongolia is serving now as a bridge in Northeast Asia for resolving the dispute in the Korean Peninsula and mobilizing an economic cooperation mechanism in the region.
Having attracted Ambassadors from the European Union and Australia, this year's conference carried out panel discussions under four main topics—orthodox security; security strengthening; economic cooperation; and environment.
In order to deliver agendas at the Ulaanbaatar Dialogue conference to decision-makers, follow-up meetings are projected to be organized with participation of scholars, researchers, ministries and agencies.
Ulaanbaatar Dialogue serves as "bridge" of NEA security – Montsame, June 20
Khan Bank Foundation sponsors Neonatal Unit 2 Project
June 20 (Khan Bank) The Neonatal Unit of the National Center for Communicable Diseases has seen no upgrades since 1986, and last year a group of young Twitter users united to initiate the Neonatal Unit Project, raising donations and furnishing the neonatal resuscitation ward and intensive care unit (ICU) of the NCCD.
Khan Bank has fully sponsored the continuation of the initiative, the Neonatal Unit 2 Project, providing equipment and resources to another neonatal resuscitation ward and ICU.
John Bell, CEO of Khan Bank said, "We are delighted to handover this international standard, newly furnished unit to the Management of the NCCD. This is one of the major initiatives implemented within the framework of Khan Bank's social responsibility. Special thanks to the socially active young leaders for their cooperation."
D.Nyamkhuu, General Director of the NCCD noted, "Thank you very much to Khan Bank and the young leaders led by I.Batkhishig for making this contribution to the well-being of the health sector, especially children, and furnishing the neonatal resuscitation and ICU. The measles outbreak of the past two consecutive years has been a shock for families. Khan Bank saw the sensitivity of this issue and sponsored the project, which is a major contribution to the health sector."
Khan Bank made an invaluable contribution the future well-being of children by fully furnishing the resuscitation ICU of the NCCD, which receives children diagnosed with severe contagious illness from every soum, aimag, and district hospital in the country.
As a leading organization in social responsibility, Khan Bank has implemented many initiatives and projects through its Khan Bank Foundation, making solid contributions to social well-being.
Special thanks to the NCCD and the ambition young leaders led by I.Batkhishig for actively taking part in the project's implementation.
Mongolian U16 basketball team win bronze medal at United World Games
June 20 (gogo.mn) Mongolia National Team, in age group of U16 01.01.2000 and younger, won bronze medal at "United World Games" which is took place in Klangenfurt, Austria on June 16-19.
Boys team played and lost their first game against Slovenia in B group. In their second round the team won the USA team with score 50:47, and came out in the second place from B group. In the semi-finals, they played the second team of the USA and lost 60:41.
For the bronze medal game, Mongolia National Team played against Hungary where they were losing 55:56 but at the last 4 seconds of the game Mongolians scored the winning shoot and ended the game in their favor 57:56.
Girls' Mongolia National Team placed 4th at the "United World Games".
Junior basketball team wins medal in United World Games – Montsame, June 20
Mongolian aerobics team win bronze at World Championship
June 20 (gogo.mn) 14th Aerobic Gymnastic World Championship (AGWC) has concluded between June 16-19 in Incheon, South Korea. AGWC has concluded between June 16-19 in Incheon, South Korea.
Mongolian aerobics team won bronze medal with 17900 score in "Aerobic step" category. Two time gold medalist Mongolian aerobics team won their second WGAC bronze medal.
Aerobics athletes win bronze medal in World Championships – Montsame, June 20
Jeju's Olle trails coming to the vast landscape of Mongolia
Tourist boards in Jeju and Mongolia agree to establish one or two trails with Jeju's distinct pony and ribbon symbols
June 20 (The Hankyoreh) Jeju Island's Olle trails are being exported to the vast plains and lakes of Mongolia.
The Jeju Olle Foundation announced on June 19 that it had signed a business agreement in the Mongolian capital of Ulaanbaatar for the joint development of Mongolian Olle trails by the Jeju Tourism Organization and the Ulaanbaatar Tourist Board.
The foundation also signed an agreement with the city's Tourist Board and Tourism Association for maintenance and repairs on the trails.
Once opened in May of next year, the Mongolian Olle trails will be a setting for experiencing the country's endlessly sprawling plains and lakes. A course passing through the center of Ulaanbaatar is to be developed to allow visitors to meet locals and experience Mongolia's nature and culture.
The idea for the Mongolian Olle trails first came at the Jeju-Mongolia Forum late last year, when members of the Seogwipo Chamber of Commerce proposed to the corporation and Mongolian representatives that they would like to see similar trails in Mongolia.
The Jeju Olle foundation is to develop one to two courses stretching for 13 to 14 kilometers, after which three surveys are to be conducted for courses recommended by Mongolia before a final decision is made. Jeju Olle's pony and ribbon symbols are also being offered as trail markers. The corporation previously conducted a primary survey on May 2 to 5 with representatives from the Jeju Tourism Organization and the Seogwipo Chamber of Commerce.
The export of the Jeju Olle brand would be the second. In 2012, development ideas and marker designs were offered for the opening of Olle trails on the Japanese island of Kyushu. The 17 courses currently operated on the island are emerging as some of the top hiking destinations in the country.
The Jeju Olle foundation also launched a Friendship Trail project in 2012 for exchanges with hiking tourism groups in eight countries, including the United Kingdom, Switzerland, Lebanon, and Greece. As part of the project, signs have been placed on hiking trails with pony images and descriptions of the Jeju trails, and promotional information has been made available online.
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