1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

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How Mongolia’s Traditional Naadam Festival Is Becoming More International www.thediplomat.com

Every summer, from July 11 to 15, Mongolians wear their traditional clothes, deel, unite with their families and friends, and celebrate the summer festival, Naadam. In the last decade, Mongolia’s Naadam celebration has modernized, grown, and became more international.
Traditionally, the Naadam Festival symbolizes Mongolia’s independence, sovereignty, national unity, statehood, history, culture, heritage, and customs. Therefore, Naadam is highly regulated even as it is celebrated throughout the country. Each of the 21 provinces of Mongolia organizes distinct Naadam festivals.
The opening ceremony of the Naadam Festival convenes in the National Sports Stadium near the capital, Ulaanbaatar. Chinggis Khaan’s Great White Banners once again rise to unify Mongolians around the world every summer, and Mongolia celebrates its history, including its modern-day revolution, and the ebbs and flows of the Mongol Empire.
This year’s Naadam theme was “Eternal Unity” and its featured historical tales and founding myths. According to Monstame, the opening ceremony including “six chapters” titled “The Everlasting Unity Hymn, The Great Epic, The Time of Great Mongol Destiny, The Migration of the Three Times, The Altan Tevsh Valley, and World Mongol.”
More than 1,500 artists, singers, dancers, horse artists, and craftsmen participated in the opening ceremony, including perhaps the largest variety of local talents yet.
According to Mongolia’s Minister of Culture Nomin Chinbat, “The successful opening ceremony demonstrated the foundation, future vision, valuable nomadic heritage, history, culture, unity, and the harmonious connection between humans and nature. In preparation alone, over 4,000 professional and freelance artists, industry workers, and employees from 79 cultural and artistic organizations have collaborated.”
In a separate venue, a collaboration between Rio Tinto, the Mongolian National University of Arts and Culture, and the Arts Council of Mongolia showcased Mongolia’s heritage, particularly folk art and nomadic craft forms.
The newly appointed U.S. ambassador to Mongolia, Richard Buangan had high praise for the festival: “These few days have been absolutely incredible. I think Mongolia should hold Naadam all year long.”
During Naadam, various traditional sports competitions such as national wrestling, archery, national horse racing, and ankle archery are organized, and special titles and decorations are also awarded.
This year’s Naadam also included the “Mongolian Pride” photo exhibition, the Deeltei Mongol festival, the “Beauty of Mongolia” art exhibition, public entertainment, the President’s Honorary Event, and the Cultural Festival, which together encompass a wide range of activities for domestic and foreign tourists.
In many ways, Naadam is a way for Mongolia to celebrate its history and achievements, while showcasing modern Mongolia on an international stage. As Ulaanbaatar aims to diversify its economy, tourism is viewed as a potential revenue stream. Mongolia’s government has designated 2023-2025 as the “Years to Visit Mongolia.” The government’s post-COVID recovery plan includes a “Welcome to Mongolia” initiative as part of its plan for increasing tourism, with the goal of reaching 1 million tourists in 2023.
In the quest to boost tourism, Naadam plays an important role in showcasing the country’s culture and traditions while providing opportunities for local businesses, entrepreneurs, and travel agencies. The successful organization of Naadam, in turn, makes Mongolia a bit more internationally relevant each year. In the last decade, Naadam has become one of Mongolia’s major cultural attractions for tourists, researchers, and Mongolia enthusiasts. These efforts have strengthened the collaboration between the government, the private sector, and the global community.
Another factor in Nadaam’s internationalization is the growth of the Mongolian diaspora. As Mongolians migrate to different continents, the establishment of Mongolian communities around the world helps to preserve Mongolian traditions, cultural activities, and national holidays and festivals such as Naadam and the Mongolian Lunar New Year. Mongolian communities in the United Kingdom, Europe, Australia, Canada, and the United States are all active in celebrating the annual Naadam festival.
As Mongolia strives to transition to an advanced democracy, its culture and heritage must modernize without losing their essence. Naadam, too, has modernized, and its cultural prevalence provides momentum on an international level.
The official framing of Naadam was captured in its 2010 inscription on the Representative List of the Intangible Cultural Heritage of Humanity. According to the entry, “Mongolian Naadam is inseparably connected to the nomadic civilization of the Mongols, who have long practiced pastoralism on Central Asia’s vast steppe. Oral traditions, performing arts, national cuisine, craftsmanship, and cultural forms… also feature prominently during Naadam.”
Mongolians believe that the showcase of nomadic civilization, traditional arts and crafts, dance, and gestures in Naadam is modern Mongolia’s way of passing the torch to a younger, more international generation.
On the other hand, Mongolia is also aiming to make its traditional culture more accessible to non-Mongolians. The Ministry of Culture is providing cultural services to foreigners through affiliated institutions such as museums and libraries. For example, as part of the special cultural programs, the play “Mongolian King” was performed in English, which has been popular among tourists. Theaters and museums are also operating without holidays to cater to the increased tourist demand.
In addition to the Naadam celebration, various provinces are celebrating their 100th anniversary this year, and the Mongolian countryside will be full of festivities organized for both foreign and domestic tourists. The recent sighting of the British actor, Christian Bale, is an inviting sign that Mongolia is becoming a major travel destination.
GUEST AUTHOR
Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.
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China and Mongolia team up to fight sandstorms www.chinadialogue.net

Battsengel, 50, lives in the south of Mongolia, in Khanbogd district, Ömnögovi province, just over the border from China’s Inner Mongolia. He has made a living herding livestock since he was 20. But sandstorms of increasing frequency are making things very tough.
“Precipitation started to fall off in 2004. By 2015, we were seeing long periods without rain and shorter intervals between droughts. Sandstorms became more frequent, meaning we lost more and more cattle,” he said.
Scientists have warned that Mongolia may already have passed a tipping point. The region is drier and warmer than at any point in 260 years and the trend towards a drier climate may be irreversible.
Parched soil means a never-ending source of material for sandstorms, and the worsening environment is already having an impact across the border in China.
Beijing, 850 kilometres from where Battsengel lives, has seen a number of sandstorms this year. They have caused air quality issues and triggered much debate on social media. It’s not just Beijing and the north – sandstorms have even reached south of the Yangtze. The issue can no longer be ignored. In May, China and Mongolia agreed to set up a joint centre to combat desertification, and other cooperation in this field is already underway.
Mongolia: a key factor in China’s frequent sandstorms
Mongolian sandstorms affecting China is not something new. In March 2021, a huge one enveloped almost the entirety of Mongolia, leaving 10 herders dead. The storm then moved on to hit parts of northern China. This year has been even worse for China.
At a regular Ministry of Ecology and Environment (MEE) press conference in May, Jiang Huohua, deputy head of the ministry’s Department of Ecological and Environmental Monitoring, said China had seen 12 instances of “dust weather” in the first four months of the year, six of those in April. The sand was coming mainly from the south of Mongolia and China’s north-west.
According to the China Meteorological Administration, the strongest of those storms occurred between 19 and 23 March. It was the third-strongest March sandstorm since 2000, affecting 4.85 million square kilometres. Less than a month later, another sandstorm struck, between 9 and 13 April. And this time it made headlines by reaching over the Yangtze.
Mongolia can account for 70% of the sand in a Beijing sandstorm
Jiang Huohua, deputy head of the MEE’s Department of Ecological and Environmental Monitoring
Satellite monitoring data shows that both of those sandstorms originated in Mongolia. Jiang Huohua said Mongolia can account for 70% of the sand in a Beijing sandstorm, and more than 50% in north-east China and other parts of middle and eastern China. Both the south of Mongolia and China’s north-west have seen higher temperatures and drier weather than usual this year – ideal sandstorm conditions.
Of course, Mongolia isn’t the only cause of the increased number of sandstorms, points out the National Climate Centre. The Asian winter monsoon may be at the top of a 20–30-year cycle, meaning stronger winds blowing across the deserts and picking up more sand. Stronger polar vortexes have been observed in the Arctic since March, and there has been more cyclone activity in Mongolia. All these atmospheric phenomena make sandstorms more likely.
“China has seen more frequent and intense sandstorms this year, with Mongolia making more of a contribution than previously. Whether that’s a one-off unique to this year, or a new normal emerging from climate change, requires further research and observation,” Ma Jun, director of the Institute of Public and Environmental Affairs, told China Dialogue.
But there is no doubt that the worsening environment in Mongolia is having an impact.
Desertification in Mongolia may have passed a tipping point
The damage to the environment is due to both economic development and climate change. In the 1990s, Mongolia initiated market reforms to relieve poverty. That led to major expansions of mining and livestock grazing. The grasslands have been threatened by overgrazing and unregulated mining ever since.
According to the Southern Weekly, Mongolia’s own statistics show that there were 24.8 million head of livestock in the country in 2022, up from 7.11 million in 1982, and far above sustainable levels. More than half of all grassland is seeing carrying capacity breached by a factor of between two and five, according to 2018 figures from Mongolia’s Information and Research Institute of Meteorology, Hydrology and Environment. For 9% of the grassland, the load is more than five times the sustainable level.
Overgrazing is one threat to the grasslands. Export-driven mining is another, worsening, factor.
Mineral-rich Mongolia gets 90% of its export income from raw and processed minerals. Four-fifths of direct foreign investment into the country goes towards mining, and the sector accounts for 26% of overall GDP. To attract overseas investors, Mongolia passed the Land Allocation Law in 2003 which stripped rights from nomads if they refused a mining company’s offer of compensation for resettlement.
An open-pit copper mine in Mongolia
An open-pit copper mine in Erdenet, Mongolia (Image: Alamy)
Ömnögovi, where Battsengel lives, is one of Mongolia’s major mining areas. Until 2000, there was only one mine here – a state-owned coal mine. But as overseas capital flooded in over the following two decades, more mining firms set up shop. There are now 12 major mines here, including one of the biggest gold and copper mines in the world.
Battsengel and others in his community blame mining for the increase in sandstorms, and say herder families in the area have suffered a lot.
“Use of scarce underground water by mining leads to physical damage of soil and loss of moisture in the soil, causing the natural water/humidity cycle to fail, which in turn increases instances of sandstorms, reducing the size and number of available pastures. Even if young herders begin to herd, the lack of water and pastures is forcing them to seek other sources of livelihood income,” he said.
The Mongolian government expects groundwater in Ömnögovi to be exhausted in a matter of years, according to a Third Pole report.
Herders now encourage their children to find employment in the mining sector and force them to attend cheap schools in order to get technical certificates
Battsengel went on: “While the number of livestock in our region has reduced, increased livestock numbers are still blamed for sandstorms. Herders now encourage their children to find employment in the mining sector and force them to attend cheap schools in order to get technical certificates.”
Ma Jun explained: “Mining has a huge impact on the nearby environment. Take coal mining: aquifers nearby need to be drained before mining can start, which is disastrous for groundwater. And if wastewater from mining isn’t handled properly, it can cause pollution.”
Grasslands are under pressure from livestock and mining, while a drying climate is making restoration of those grasslands ever harder.
In 2020, a paper published in the journal Science said that “inner East Asia” – Mongolia and its surroundings – had already passed a climate tipping point. The region had seen a hotter and drier climate over the previous two decades than at any time in the past 260 years, and factors exacerbating the trend had formed a positive feedback loop: loss of soil moisture was leading to surface warming and an unusual climate, with the resulting heatwaves further reducing soil moisture. The scientists warned that this might represent an irreversible trend.
Other research found average temperatures in Mongolia rose by 2.24C between 1940 and 2015, while precipitation fell 7%. And between 1987 and 2010, more than a quarter of lakes larger than 1 square kilometre on the Mongolian plateau dried up.
More cooperation needed
Mongolia is taking measures to combat desertification. One of these is reforestation.
On 22 September 2021, Mongolia’s president, Khurelsukh Ukhnaa, committed at the UN General Assembly to the planting of one billion trees by 2030. A “Billion Tree Plan” was launched on 10 October that year.
With Beijing ravaged by sandstorms this year, some civil society voices have called for China to strengthen cooperation with Mongolia and help the country tackle desertification.
afforestation of Planted “shelterbelt” forest in Gansu province, northwest China (Image: Alamy)
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There was already some cooperation in this area, including training on how to prevent desertification and demonstrations of Chinese technology. Since 2017, the Chinese Academy of Sciences has been running a 27-hectare project in the south of the Mongolian province of Bulgan, demonstrating how to stabilise mobile and semi-mobile sand dunes and increase vegetation.
In November 2022, China’s president, Xi Jinping, met with Khurelsukh Ukhnaa saying he hoped to set up a joint centre to combat desertification, providing Chinese expertise and technology to balance conservation with development.
In May, after the spate of sandstorms, the National Forestry and Grassland Administration and its Mongolian counterpart reached agreement on creating that centre, with the initial planning and mission for the organisation confirmed.
aerial photo reforestation inner mongolia China
Voluntary tree planting in Gansu province, 24 March 2021 (Image: Wu Xihui / Alamy)
“Cooperation between China and Mongolia on sandstorms is still limited and shallow. More cooperation and discussion is needed to determine whether or not Mongolia can adopt Chinese practices, or if it has its own unique needs. Climate and geography always differ across place,” said Ma.
China has more desert than any other country and is worst affected by sandstorms. Over the decades it has taken measures, including the creation of shelterbelt forest and removing livestock, to help restore grasslands and successfully reverse desertification. In the process it has accumulated considerable experience in tackling sandstorms.
“In terms of policy, China pushed through large-scale removals of livestock to control overgrazing, as well as creating permanent settlements for nomadic herders. There were challenges and issues along the way, but overall pressure on the grasslands has eased, helping the return of vegetation. Latest practices include importing water to dry areas, which prevents rivers drying up downstream due to excessive agricultural, industrial and domestic water usage. Experience has also been accumulated here,” said Ma.
Ma says tackling sandstorms needs to consider local circumstances. Is an area best suited to becoming a forest, a grassland or a desert? Deserts are a type of ecosystem and if left undisturbed a tough surface layer can form which the wind cannot pick up.
Camels drinking at a creek in a desert
Gobi Desert, Mongolia (Image: Bayar Balgantseren / Alamy)
“I recommend Mongolia takes China’s experience into account and avoids the wrong turnings we took. I’ve seen large expanses of dead trees due to excessive planting of inappropriate species,” said Ma. “That was a big lesson.”
Thanks to Sukhgerel Dugersuren of Rivers without Boundaries Coalition for assistance with the interviews.
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Investors Are Looking for Political and Economic Stability www.montsame.mn

The following is the interview with Ms. Zsuzsanna Hargitai, the Regional Managing Director, Central Asia and Mongolia, European Bank for Reconstruction and Development.
What do you think is the essence of the Mongolia Economic Forum-2023 in terms of budget and sustainable development?
So we are only after the first day. One issue that we would discuss is how to turn the Vision 2050 into the results that you and I can feel in the coming two-three years. The second is that the Mongolian economy is recovering after the pandemic. We, EBRD, see that it will grow at 7.2 percent this year, and the next year 7.5 percent. This is the EBRD forecast, which is above everybody else. Last year we were right being optimistic and I am confident this year that we shall also be right. Now the second question is how to make people feel this economic growth because it is not that everywhere, and what many people, most of the people feel is the high inflation. The third is how to push in Mongolia investments that will create jobs that will make the results of the economic growth more equitably felt.
Not all investments should go in mining. Even though it is the strength of Mongolia, still not all investments should go into mining. A lot of attention should be paid to adding value, for instance, cashmere what Mongolia already produces. So we do not export raw cashmere, this is an example of adding value. Invest in energy, because the Mongolian economy requires more and more energy. Renewable energy also gives Mongolia export potential to China. You can export energy back to China if you develop one, two, or three GW of renewable. So investment, or FDI into the country, should go into the new industries as well, creative industries, such as energy.
The next issue is how to support Mongolian investors to grow so that the companies would grow. Not all of them would grow, but they grow into bigger companies.
The last thing, that underlines it all, is how can we have the Government to employ fewer people, but who will be smarter and can work in a transparent way, using digital technology. I would also like to have more efficiently working commercial courts, and more efficient implementation of decisions of these commercial courts. This would also make credits cheaper.
Recently your bank gave some USD 137 million in loans in support of green business.
Yes, all the loans are disbursed.
What shall Mongolia have to do to attract foreign investment? Improve legal environment or?
It is a long answer. Mongolia has a new draft investment law that is going to the Parliament. So you have already had one-stop-shop. So if I am a foreign investor, I can go to the Government and find information. The Government says that they are cutting back all the permits and licenses by maintaining high standards. The fewer permits you are asked for, the less room is for corruption. It is especially true when I work through a computer, and not through a pocket. The important thing is that the Government is maintaining political stability, Government and political leaders, and that is what they call macroeconomic stability. So that boom and busy period should be evened up, because investors are looking for political and economic stability. Good PR is also required.
Thank you very much for your time!
My pleasure. Thank you so much! Much appreciate.
 
 
 
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Ashok Lavasa: PPPs Can Actively Support Energy Transition www.montsame.mn

Asian Development Bank Vice President for Market Solutions Ashok Lavasa delivered a keynote remark at Mongolia Economic Forum- 2023 on 9 July. In his keynote remark, he emphasized the importance of developing the enabling environment for private sector participation and expanding private sector financing to meet growing investment needs for inclusive growth and climate action. Below are some highlights from his speech.
ADB considers its engagement with Mongolia to be of the highest importance. As Mongolia’s long-term development partner, ADB will support Mongolia in its development vision (Vision 2050) to become a “dynamic and modern economy with a thriving middle class by 2050”. Supporting the New Recovery Policy and its six priority areas being the near-term priority (recovery in ports, energy recovery, industrial recovery, urban and rural recovery, green recovery, and recovery in public productivity).
ADB now sees the Mongolian economy as firmly on a path of recovery and in a period of post-pandemic expansion. ADB’s growth forecast for 2023 is 5.4%, and 6.1% for 2024. This trails a solid 4.8% seen in 2022, sluggish growth of 1.6% in 2021, and a contraction of 4.6% in 2020. With exports recently buoyed by higher commodity prices, things are looking brighter for Mongolia. However, vulnerabilities remain.
Mongolia is at the center of the climate crisis, with the growing threat of desertification, storms, forest fires, droughts and severe winters, which can devastate livestock. Energy security and the need for clean energy is a pressing concern.
Supporting the Mongolian economy to be more resilient, diversified, and inclusive is a key objective of ADB. Overall, ADB’s support since Mongolia joined ADB in 1991 has totaled more than $4 billion, and today, our active portfolio stands at over $1.5 billion. ADB’s portfolio peaked in 2020 at close to $2 billion, as we scaled up support to assist Mongolia in its COVID-19 response, including the provision of urgent assistance for social and health needs.
Financing public infrastructure is at the heart of ADB’s operations. While Mongolia has made significant progress in building public infrastructure, faster growth continues to be held back by a major infrastructure gap.
Public sector financing can only stretch so far. Governments throughout the world are increasingly fiscally constrained and debt levels can only rise so far. Finding ways in which to attract private sector financing is therefore critical.
ADB is committed to supporting private enterprise and working with the government in creating a conducive environment to further boost private investment.
ADB is currently undergoing an organizational change that places greater emphasis on expanding its own greater mobilization of private sector resources. Our goal is to scale up private sector operations to one-third of all operations in the coming years.
The goal of ADB’s private sector operations is not to compete with or crowd-out commercial financing, but to crowd-in investment and financing and to close market gaps, with a cofinancing target of $2.50 for every $1.00 of our own private sector financing.
As we look at the financial sector here in Mongolia, we now see more opportunities for green and social financing. Green and social bonds, including gender bonds, represent an emergent opportunity for developing countries to tap international private sector capital searching for responsible investments.
Food security is a priority area of ADB & the Mongolian government and one that was exposed as a vulnerability during the COVID-19 pandemic. Under ADB’s private sector operations, we were able to respond during 2020 by extending liquidity support to sustain businesses during a period of tight credit.
ADB announced a partnership at COP26 to launch an Energy Transition Mechanism (ETM) to accelerate the transition from coal to clean energy. ETM combines concessional and competitively priced market funds as a low-cost financing package that incentivizes early retirement or repurposing of coal-fired power plants. We aim for this to be a new model for acceleration of coal plant retirement across the region, with the goal of a massive reduction in carbon dioxide emissions.
As Asia and the Pacific’s Climate Bank, ADB’s own ambition is to provide up to $100 billion in climate finance by 2030 across all countries that we operate in. Globally, there are now huge sums of capital looking to support clean energy and climate finance, and Mongolia can take advantage of such capital.
PPPs can actively support energy transition in terms of renewable energy generation, but also in terms of energy efficiency and this is where private sector innovation and the long-term nature of PPP contracts can add significant value through whole-life cost efficiencies.
ADB has been actively looking to support Mongolia with building its PPP pipeline despite challenges. The environment to enable PPPs is advancing positively. The Law on Public–Private Partnership was approved by the Parliament in December 2022 (with the help of ADB and other partners), and next, the government plans to make this law effective, followed by operationalization of its PPP center. Experience shows that these are critical reforms necessary to galvanize PPP transactions. ADB looks forward to continuing to support the development of PPPs by identifying a suitable pilot project that can be used to test the new PPP law.
Creating an attractive investment environment remains paramount. Improved infrastructure is just one part of this.
The banking and financial sector in Mongolia has led the way in its digital transformation, and the public sector has made tremendous in-roads with the launching of the e-Mongolia platform. ADB will continue to support the government and private sector in advancing digitalization, seeking to apply solutions in our operations, including in trade, fintech, education, health, and agribusiness.
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Harnessing the Potential of the Social and Solidarity Economy in Mongolia www.ilo.org

In celebration of World Small and Medium Enterprises Day 2023, the Development Solutions NGO, national consultant for the Strengthening Social and Solidarity Economy (SSE) project, engaged with the national advisory committee members and other stakeholders on Mongolia's social and solidarity economy on 27 June 2023.
Bat-Orshikh Erdenebat, Chief Advisor at Development Solutions NGO and lead consultant, informed participants that the project builds on the Resolution Concerning Decent Work and the Social and Solidarity Economy adopted at the 110th International Labour Conference in June 2022 and UN Resolution on Promoting Social and Solidarity Economy for Sustainable Development .
Participants discussed the importance of involving government officials in the national advisory committee to further raise awareness and strengthen the SSE. They noted that there is a lack of awareness of the term “social and solidarity economy” and that not all types of SSE entities exist in Mongolia.
The representative of the Mongolian Employers’ Federation called for a working definition of the social and solidarity economy in Mongolian while maintaining its principles and values. He remarked, “The new resolution on social and solidarity economy needs to be adapted into Mongolian laws and regulations accordingly.”
Staff from Development Solutions NGO disseminated preliminary research findings based on the self-assessment survey of 156 SSE entities. Case studies on selected SSE entities from the rural provinces revealed the challenges and opportunities facing the social and solidarity economy in Mongolia.
The second phase of the Strengthening the Social and Solidarity Economy in Asia Project, funded by the Ministry of Employment and Labor of the Republic of Korea, aims to contribute to strengthened awareness of the SSE’s contribution to decent work and sustainable development and create policy dialogue in five countries in Asia and the Pacific - Cambodia, Kyrgyzstan, Mongolia, Thailand, Vietnam. Mongolia supported the adoption of the UN resolution on SSE and sustainable development.
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WEDF UN Mongolia Live: Building trade capacity for landlocked countries www.tradefinanceglobal.com

At the official opening of the World Export Development Forum 2023, hosted in Ulaanbaatar, Mongolia, Ms. Rabab Fatima, the United Nations Under Secretary General and High Representative for the Least Developed Countries (LDCs), Landlocked Developing Countries (LLDCs), and Small Island Developing States (SIDS), addressed the international trade audience, sharing her insights on the theme “Vision to diversify trade in ways that are green, digital, and organic – and bring small businesses into regional and global trade.”
Fatima revealed the challenges and opportunities faced in the contemporary world of international trade through the lens of LDCs, LLDCs, and SIDS. These countries represent the 92 most vulnerable nations, each with an export share below 1% of the total global trade.
First and foremost, it is important to acknowledge the intrinsic power of trade in driving economic growth for any nation. However, she also highlighted the obstacles that LDCs, LLDCs, and SIDS encounter in their pursuit of economic development, particularly in the context of climate change.
Problems in accessing trade: From geography to border regulations
One of the major issues faced in accessing markets is the higher transit transport costs incurred by these nations due to their remoteness from major global markets, which, she stated, “contributes to much higher transit transport costs for landlocked developing countries, leading to increased greenhouse gas emissions and further exacerbating climate change.”
Recognising such a critical inter-connection, Fatima called for a fundamental re-evaluation of trade composition and patterns, asserting the imperative to minimise the carbon footprint while achieving rapid economic growth.
Furthermore, Fatima elucidated the array of obstacles that impede the participation of Micro, Small, and Medium-sized Enterprises (MSMEs) from developing countries in international trade.
She noted, “Many obstacles are internal in nature and are primarily related to managerial skills, workforce capacity, and the capability to adopt new technologies.”
Alongside these internal challenges, MSMEs also face significant financial constraints that restrict their ability to access global markets. Limited access to foreign distribution networks, along with complex border regulations and compliance with international standards add another layer of complexity, further exacerbating the plight faced by these nations.
Fatima brought attention to the marginalisation of LDCs, LLDCs, and SIDS in the organic food sector. Despite the organic food market being valued at nearly $500 billion, she pointed out the prevailing regional disparity in market share, stating, “North America and Europe account for the majority of organic product sales, with a 90% market share.”
In light of this disparity, she called for governments and financial institutions to support these nations in advancing their domestic farming practices and allowing them easier entry to external markets through simplified regulations and certifications.
Moreover, Fatima discussed the role of digitalisation in reducing barriers to international trade, acknowledging the benefits of digitalisation in reducing transit-transport costs for LDCs, LLDCs, and SIDS. However, she cited the unequal accessibility to digital solutions that became apparent during the pandemic, stating, “While developed countries could turn to digital platforms to continue business during the lockdowns, this was not an option for most businesses in the LDCs, LLDCs, and SIDS.”
In an effort to build actionable momentum, Fatima put forth the following set of measures, urging the international trade community to actively support and implement actions to address the marginalisation of (LDCs), (LLDCs), and (SIDS) within the global trading system:
Build trade capacity at a massive scale: This entails developing robust infrastructure, enhancing connectivity, streamlining customs procedures, and promoting regional integration. These ambitious initiatives will empower marginalised nations to strengthen their resilience against volatile market conditions. Additionally, it is imperative to extend unwavering support to women-led businesses, creating an inclusive business environment that unlocks the transformative potential of women.
Support digital ecosystem development: Establish essential digital infrastructure, promote fintech and mobile banking, and formulate transparent and equitable regulations to facilitate access to digital trade and the e-commerce world.
Aid for Trade: Leveraging the initiative to boost climate-resilient trade capacity and infrastructure, enabling these nations to embrace a green economy and stimulate organic production.
Facilitate technology transfer: Provide affordable access to modern technologies, especially renewable technologies, aligning with the implementation of Article 66.2 of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
Technical assistance: Support these countries in meeting organic standards in international markets and enable their active participation in international standard-setting bodies through assistance under the Technical Barriers to Trade (TBT) and Sanitary and Phytosanitary (SPS) Agreements.
Engage the private sector: Encourage the active involvement and collaboration of the private sector with governments and development partners to drive economic growth, create employment opportunities, and promote inclusive and sustainable trade.
Through the dedicated commitment and actions of the international trade community, marginalised countries can have the opportunity to embark on their transformative journey towards rapid economic growth and sustainable development.
BY
Deepesh Patel is Editorial Director at Trade Finance Global (TFG) and host of Trade Finance Talks. Deepesh regularly chairs and speaks at international industry events with the WTO, BCR, Excred, TXF, The Economist and Reuters, as well as industry associations including ICC, FCI, ITFA and BAFT.
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What is Naadam? The story behind Mongolia’s ‘Three Manly Games’ www.cnn.com

In many travelers’ minds, Mongolia conjures images of vast plains, nomadic gers, desert landscapes and one of the most famous warriors of all time, Genghis Khan.
Though the famed first khagan of the Mongol Empire died in 1227, his legendary pursuits continue to reverberate across this beautiful land. The country’s most important annual event, the Naadam festival, is no exception.
Nowadays it’s the event of the year, a nationwide celebration of sports and arts attended by thousands of Mongolians and a hot draw for international tourists, too. Given its popularity, travelers looking to experience this one will want to start looking ahead to July 2024 now.
Here’s a quick guide to the action and how to see it.
What is the Naadam festival?
The event is often referred to as “Eriin Gurvan Naadam” – which translates to “Three Manly Games.”
Mongolian native Buyandelger Ganbaatar, country director of tour company Nomadic Expeditions, tells CNN that Naadam actually has over 2,000 years of history and it was originally a means of preparing for war, as Mongolia-dwelling tribes regularly raided each other.
“Naadam means ‘games’ in the Mongolian language and it includes three main competitions, Mongolian wrestling, archery and horse racing,” he explains.
Karakorum: Mongolia’s ancient capital is a cultural delight
It’s also the largest gathering in Mongolia, with 21 provinces all taking time off to celebrate their traditional nomadic culture and heritage, “from the capital city of Ulaanbaatar to the remote towns of the Gobi.”
The main official event takes place July 11-13 in the capital city, in Ulaanbaatar’s National Stadium.
“During the festival, it is possible to see pride, joy and happiness on every face,” says Ganbaatar. “Naadam has become (part of) the national identity of Mongols.”
It all started with Genghis Khan
Start of the Naadam Festival celebrating the 800th anniversary of the Mongolian State in the National Stadium. A Genghis Khan actor was central the spectacular event. (Photo by In Pictures Ltd./Corbis via Getty Images)
It wasn’t until 1921 that Naadam was officially declared an annual national holiday in Mongolia.
For hundreds of years though, this trio of events – archery, horse riding and wrestling – was believed to have been integral to building important skills for the region’s nomads as well as Mongolian soldiers.
According to some historical accounts, in the early 13th century, after Genghis Khan defeated his enemies and ruled over the Mongol tribes, he held the games as a celebratory event.
Providing evidence of this, the Stele of Genghis Khan – a stone dating back to the 1200s bearing the first known Mongolian script – depicted a nobleman named Yesunge who managed to shoot a target with an arrow from a distance of more than 500 meters.
In 2010, Naadam was added to the UNESCO List of the Intangible Cultural Heritage of Humanity.
“Mongolian Naadam is inseparably connected to the nomadic civilization of the Mongols,” says the UNESCO inscription.
“The three types of sports are directly linked with the lifestyles and living conditions of the Mongols and their transmission is traditionally undertaken through home-schooling by family members, although formalized training regimens have recently developed for wrestling and archery. The rituals and customs of Naadam also accentuate respect for nature and the environment.”
Easier than ever for international travelers to visit
The first few jockeys make it through the finishing line. Naadam, a traditional Mongolian festival celebrating the 'three manly games' , is celebrated in Uliastai, Western Mongolia. Child jockeys up to the age of 12 can compete in the horse races, which span some 40km. It's considered an important rite of passage for Mongolian children. Tessa
The multi-day national Naadam holiday was extended from three to five days by the Mongolian Government in 2020, and much of the country shuts down during this period.
Naadam is also one of the most popular times for international travelers to visit Mongolia, with more than 11,000 foreigners coming specifically to see the games in 2019 according to local news reports citing government statistics. The country received about 637,000 international travelers in total that year.
Why 2023 is the year to visit Mongolia
The Naadam games took place virtually for two years, from 2020-2021, because of the pandemic. With the effects of border closures still lingering in 2022, hopes were high among authorities that the just-concluded 2023 Naadam festival would mark the start of a comeback for international tourism.
To boost tourism in general, the Mongolian government declared 2023-2025 the “Years to Visit Mongolia.” As part of the campaign, travelers from an additional 34 nationalities can visit Mongolia visa-free for up to 30 days.
The addition of several European countries as well as Australia and New Zealand brings the total number of countries and territories on Mongolia’s visa-exempt list to 61.
From the capital to the countryside
In addition to the major festivities held in Ulaanbaatar, there are Naadam games – of different scales – held across Mongolia in the countryside. Many tour companies offer these as an alternative.
Travelers headed for the main Naadam festival at the National Stadium can expect a massive party with an opening ceremony, parades, performances and, of course, the games, to be held in Ulaanbataar over a few days.
The opening ceremony is a grand celebration that showcases the best of Mongolian dance, music and other cultural traditions. One particularly special event that takes place during this event is the parade of the Nine White Banners. Horse riders in traditional attire march into the stadium hoisting a banner attached to a pole with white horse tail hairs on top.
According to Nomadic Expeditions, the white banners were carried during peace negotiations and festivals since the time of Genghis Khan.
Today, the Nine White Banners are a sacred emblem of Mongolia and are usually kept in the State House.
Can women compete in the ‘manly games’?
Most of the games are open to participants of all ages and genders, except for wrestling. Male athletes only.
In Ulaanbaatar, hundreds of the nation’s top wrestlers compete for two days in nine untimed, single-elimination rounds.
“There are no age limits, no time limits, and certainly no size limits in competition,” says Nomadic Expeditions on its website. “It is not uncommon to see a David and Goliath-style match, often with the smaller guy winning.”
Multiple competitions happen at the same time as athletes, dressed in a hat, a shoulder vest and shorts, pair up and try to throw their opponents to the ground. A competitor loses if any parts of their body other than their hands and feet touch the ground.
The main archery competitions take place next to the National Stadium, at the National Archery Field, over several days. In one style of event, for example, the archers shoot their arrows toward a series of leather targets on the ground. Those who hit the most win.
Meanwhile, the horserace competitions are held at fairgrounds outside Ulaanbaatar. These long-haul races test the horses’ endurance and the animals are primarily ridden by child jockeys. Though the sport is part of the country’s heritage, the age of the riders has attracted criticism in recent years. leading the government to amend related regulations to improve safety standards surrounding the sport.
At the end of each race, the crowd rushes forward to surround the winning horse. Why? The sweat of the winning horse is said to be lucky.
Any special foods?
Khuushuur - small size cheburek filled with chopped meat, fried in mutton fat or vegetable oil. Mongolian cuisine
Visitors to any of the Naadam festivals are going to eat well.
Vendors and markets pop up outside each of the game venues in each province.
In between the games, spectators would be wise to grab a khuushuur, a round deep-fried meat dumpling that is the unofficial snack of Naadam, from a street vendor nearby.
Is it difficult to get tickets?
International travelers should arrange their accommodation and tickets far in advance if they wish to visit Mongolia during the Naadam festival. That includes the weeks before and after the games.
Tickets to the opening and closing ceremonies in Ulaanbaatar are especially limited.
The stadium seats 11,000 people and around 2,500 tickets are reserved for international tourists each year. This year’s prices were $25 per ticket.
Ticket sales usually only open about a week before the game. But travelers can purchase through a tour company in advance. Some book through their local hosts and accommodations.
If you fail to get a ticket, you can still attend the horseraces.
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Rio Tinto grabs stake in graphite-focused Sovereign Metals www.mining.com

Rio Tinto (ASX, LON: RIO) agreed on Monday to buy a 15% stake in Australia’s Sovereign Metals (ASX: SVM) (LON: SVML) for A$40.4 million ($27.6 million), becoming a top investor in the critical minerals developer.
The move by the world’s second largest miner marks its first public step into the graphite sector, as it continues to boost its exposure to battery minerals.
Rio Tinto’s exploration arm – Rio Tinto Mining and Exploration – will subscribe for an initial 83.09 million shares in Sovereign Metals at a price of 48.6c each, reflecting a a 10% premium to the explorer’s 45-day volume weighted average share price.
The mining giant will also be granted an option over a further 34.54 million shares, with a 12-month option period, which could see Rio’s share in Sovereign increase to 19.99%.
Sovereign will use the funds to advance a definitive feasibility study for its Kasiya project in Malawi, where it aims to produce graphite for lithium-ion batteries and rutile for the pigment and titanium metal industries.
“This landmark agreement is a confirmation of Kasiya’s place as one of the most significant critical mineral discoveries in recent times,” Sovereign chairman Ben Stoikovich said in the statement.
The companies will collaborate on technical and marketing aspects for a graphite product from the project, with a focus on supplying purified graphite for the lithium-ion battery anode market.
Rio Tinto already produces titanium dioxide from rutile at its operations in Madagascar, South Africa and Canada. Titanium is used in solar panels, paint and aircraft because of its ability to withstand temperature extremes.
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Kazakhstan, Uzbekistan and Mongolia among top landlocked developing countries for FDI worldwide www.intellinews.com

Kazakhstan was the leader among global landlocked developing countries (LLDCs) for foreign direct investment (FDI) last year, attracting a total of $6.1bn, according to the World Investment Report 2023 released by UNCTAD on July 5.
The majority of investment flows remained concentrated in a small number of the 32 economies, with the top five LLDC recipients accounting for 83% of the total FDI received by the group, UNCTAD said. The leading countries in terms of FDI were Kazakhstan, Ethiopia, Uzbekistan, Mongolia and Uganda.
LLDCs in Africa, Asia and Europe observed an increase in investment inflows, while those in Latin America and the Caribbean experienced a decline.
Among the LLDCs in developing Asia, Kazakhstan experienced an 83% surge in FDI to $6.1bn. Although equity flows decreased, reinvested earnings reached an all-time high of $10bn, bolstered by substantial profits in extractive industries.
Uzbekistan recorded a record high of $2.5bn in FDI, largely attributed to a doubling of reinvested earnings to $1.2bn. On the other hand, FDI flows to Azerbaijan turned negative, falling to -$4.5bn, due to dividend payments in the extractive industries.
Elsewhere in the world, Ethiopia maintained its position as the second-largest recipient among LLDCs, despite a decrease in inflows. FDI in Uganda saw a significant rise of 39%, totalling $1.5bn, mainly attributed to major projects in extractive industries.
In Latin America flows to Bolivia turned negative once again, falling to -$26mn, primarily due to exceptional dividend payments in the hydrocarbon sector. Conversely, Paraguay witnessed more than a twofold increase in flows to $474mn, driven by investment growth in various economic sectors.
FDI to LLDCs primarily originated from a few key investor countries. China emerged as the largest investor, contributing a significant $20bn in 2021, including $7.5bn in Kazakhstan alone. Thailand, Canada and the Netherlands followed as the next biggest investors in LLDCs.
The report also indicated a significant increase in the number of greenfield project announcements by LLDCs as a group, which reached $31bn. This growth was particularly noticeable in the extractive industries sector.
In contrast, the number of international project finance deals declined by 19% compared to 2021, and the value plummeted by 72% to $19bn. While the majority of projects focused on renewables, there were also announcements in the power, mining and industrial real estate sectors.
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Pope visit to Mongolia will thrill tiny Catholic community, cardinal says www.reuters.com

VATICAN CITY, July 17 (Reuters) - The head of one of the world's smallest national Catholic communities - Mongolia with 1,450 members - said on Monday that Pope Francis' visit there will show how far it has come since locals watched "these funny foreigners praying".
Cardinal Giorgio Marengo, an Italian who administers the Church in the vast country that borders China and Russia, also said the pope's Aug. 31-Sept. 4 visit will be a balm to a people who suffered "70 years of harsh communist rule" until the fall of the Soviet Union in the early 1990s.
"The reaction of both the Catholic community and the larger local community was of great wonder and joy and something thrilling. It's gradually becoming more evident how important and meaningful this visit will be," he said at a conference.
Francis, who enjoys visiting places where Catholics are a minority, will spend all of his time in Mongolia in Ulaanbaatar, capital of the vast country with fewer Catholics than most parish churches in many places. The smallest of Mongolia's nine parishes has only 30 members.
Marengo has been a missionary in Mongolia for more than 20 years and recalled his first years.
"We put up two gers," he said, using the Mongolian word for a tent-like portable circular dwelling.
"One for prayer and one for activities with children ... the people of the neighbourhood started entering and watching these funny foreigners who were praying (in Mongolian)."
"They told us 'we felt there was something special in this ger,'" he said.
Maregno would not be drawn on the political significance of the trip, referring reporters to Vatican diplomats.
The country of about 3.3 million people is strategically significant for the Roman Catholic Church because of its proximity to China, where the Vatican is trying to improve the situation of Catholics.
Mongolia, which was part of China until 1921, has good relations with Beijing. Diplomats say it could be used as an intermediary with China.
About 60% of Mongolians identify as religious. Among those, 87.1% are Buddhist, 5.4% Muslim, 4.2% Shamanist, 2.2% Christian and 1.1% followers of other religions, according to the U.S. State Department.
Reporting by Philip Pullella; Editing by Sharon Singleton
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