Mongolian startups present their business at Google Asia HQ in Singapore www.montsame.mn

Ulaanbaatar /MONTSAME/. 27 startup companies from Mongolia took part in the Mongolian Startup Showcase 2019 (MSS) event jointly organized by the Mongolian Embassy in Singapore and Mongolian START Company. Within the framework of the event, the Mongolian entrepreneurs presented their businesses on October 14 at the Google Asia Pacific Headquarters in Singapore.

China, Mongolia sign a military agreement www.politicallore.com

Chinese and Mongolian defence ministers signed a protocol and agreement to provide assistance to Mongolia, Akipress news agency reported. Both countries have already cooperated in the military and technical fields.

330 kV Ulaanbaatar-Mandalgobi transmission line commissioned www.montsame.mn

Dundgobi /MONTSAME/ The 330 kV power transmission line stretching for 250 km between Ulaanbaatar and Mandalgobi soum of Dundgobi aimag and two electric substations which have been built with a soft loan of USD 113.04 million from the Exim Bank of China and an investment of USD 5.95 million from the Government of Mongolia were commissioned and handed over on October 18.

Tetra Tech Awarded $30 Million Mongolia Water Supply Program Management Contract www.business.financialpost.com

PASADENA, Calif. — Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the government of Mongolia, through a Compact formed under the Millennium Challenge Corporation (MCC), awarded Tetra Tech a $30 million, seven year, single-award contract. Tetra Tech will provide program management services for a comprehensive water supply project in Mongolia to increase bulk water supply and meet future demand in Mongolia’s capital city, Ulaanbaatar.

MCC is assisting the government of Mongolia in addressing Ulaanbaatar’s water supply constraints with a project that includes installing new groundwater wells, an advanced water purification plant and a new wastewater recycling plant. As the Program Management Consultant, Tetra Tech will oversee and review detailed designs and environmental and social impact assessments, and provide planning, financial oversight, and program management services.

Under a previous MCC contract, Tetra Tech provided technical support services to the government of Mongolia to support innovative wastewater recycling and groundwater conservation projects. Tetra Tech evaluated the use of recycled wastewater at large combined heat and power plants (CHPs) in Ulaanbaatar and prepared impact assessments and feasibility studies. Tetra Tech also developed the process and design of a tertiary treatment wastewater recycling plant and connecting infrastructure to use recycled water at the CHPs.

“Tetra Tech is pleased to continue supporting MCC and the government of Mongolia in securing a safe and clean water supply for the people of Ulaanbaatar and supporting economic growth in Mongolia,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to using our expertise as a premier, high-end consulting, engineering, data analytics, and program management firm to support MCC’s innovative, evidenced-based work promoting stability and reducing poverty.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions (“Future Factors”), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section “Risk Factors” included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

Defense Minister of Mongolia visiting China www.montsame.mn

Ulaanbaatar /MONTSAME/. Minister of Defense N.Enkhbold is paying a working visit to the People’s Republic of China upon the invitation of Chinese Defense Minister Wei Fenghe and held official talks with the Chinese minister.

Mongolian PM to attend enthronement of Japanese Emperor www.news.mn

Mongolian Prime Minister U.Khurelsukh flew to Tokyo earlier today in order to represent Mongolia at the enthronement of Naruhito, Emperor of Japan. The ceremony will take place on 22-23 October.

President Kh.Battulga: Participation of scholars is crucial for policy on minerals www.montsame.mn

Ulaanbaatar /MONTSAME/. The celebratory conference on the occasion of the 80th anniversary of the establishment of the geology sector in Mongolia took place at the State House on October 18.

Norway’s $1 trillion fund builds Rio stake after dirty mine sold www.mining.com

After freezing out Rio Tinto Group for more than a decade for owning a highly polluting copper mine, one of the world’s biggest sovereign wealth funds has brought the company back into the fold.

Rich Chinese outnumber wealthy Americans for first time – Credit Suisse www.rt.com

A new report by Credit Suisse shows that the number of rich Chinese people has surpassed the number of wealthy Americans for the first time as both countries continue to produce millionaires at fast rates.
“This year, for the first time, China recorded more members of the global top 10 percent (100 million) than the United States (99 million),” the Swiss bank reported in its annual wealth survey released on Monday.

B.Uyanga: DBM not only provides loans, but also supports development projects it financed www.montsame.mn

We interviewed B.Uyanga, Director of Credit Financing Department of the Development Bank of Mongolia.

- To start with, please introduce us the activities and goals of the Development Bank of Mongolia (DBM)?

The Development Bank of Mongolia (DBM) was officially inaugurated and began its operations in 2011. DBM works to provide financing of large-scale projects and programs for Mongolia’s development as well as to support and track the results of the development projects. The Law on Development Bank of Mongolia was revised in 2017 with primary amendments made to ensure that not less than 60 percent of the DBM’s funding to be provided for export-oriented projects and programs. In this respect, the DBM has been mainly financing projects, enterprises and factories that are working to export their outputs abroad. In addition, we provide funding to major projects of imports, infrastructure and power plant. According to the aforementioned law, all of these shall adhere to government’s midterm and long-term development policies.

- Could you tell us about the goals you have set for this year?

First of all, we are working on non-performing and problem loans by announcing this year as the year to deal with problem debts. Furthermore, DBM’s improvement of domestic regulation, loan issuing activities as well as internal restructuring, reorganization and enhancement of corporate governance are being carried out. Not to mention the main operations toward the country’s economic growth, to fund export projects and programs. Goals for this year focus by and large on these three directions.

Most importantly, apart from loan issuing activities, we are working together with government and non-government organizations to bolster the loan investments provided to entities and tackle challenges of exporting faced by them. For instance, DBM has been maintaining cooperation with ‘Export International Trade Center’ NGO since 2015, giving support to exporting entities to sell their products to the USA, Canada and Japan and European markets.

DBM’s efforts to assist the lending entities and projects include organizing meetings with government departments in charge of trade, chambers of commerce and other relevant organization of foreign countries, delivering information on documents required for exports and document preparation and studying what products made in Mongolia attract the most attention of overseas customers. This implies that when providing services and loans, DBM works together with the companies and development projects it funded until they are fully completed to show tangible results and profits with eventual intention toward the nation’s future growth.

Could you introduce loan and financing indicators of your bank?

As of today, our bank has loan portfolio of MNT 2.7 trillion. Besides giving direct loans to major projects and programs, we provide funding to commercial banks. In other words we finance small and medium sized enterprises through commercial banks. Currently, we have funded 15 programs through 11 commercial banks. Number of entrepreneurs and entities that received financing reached 1700 now. Whereas direct loans granted by our bank, has been given to 74 loan holders or such number of projects and programs.

1700 entities are not a small number. How effective are the loans being granted through commercial banks?

These loans are effective. Commercial banks take their risks at 100 percent, studying the loan requests themselves. Finally, they submit their request to our bank with suggested factories and entities to provide loans. After running selections, relevant ministries also send a list of the factories and entities that are considered proper to support. The commercial banks study these entities and our bank provides loans to the selected entities. There is not any risk on loans being given through commercial banks and repayment of loans is running at 100 percent without any problem.

What about loan disbursement by sectors or purpose?

40 percent of loan portfolio is allocated to processing industry, 24.2 percent to construction sector, 16.3 percent to indirect loans or commercial banks, 10.6 percent to mining, 8.3 percent to energy and 2.6 percent to other sectors.

I heard that the Development Bank would support ‘Export Mongolia-2019’ international business forum to be held in Mongolia on October 28-29. Could you elaborate it?

As we finance projects and programs targeted to export, our bank will involve the exporting entities that have got loans from our bank in the forum and provide information. ‘Export Mongolia’ forum will be held for the 5th time. Previously, only domestic companies and entities used to attend the forum, but this year many international organizations will take part and bilateral and trilateral meetings will be held in a wider range. Financial institutes, which promote businesses, will participate as well. We will introduce our projects and programs at the forum.

The Development Bank of Mongolia has right to draw its funds and financing from foreign sources. The bank issues various types of bonds and collaborates with international banks and financial institutes.

B.Bold