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Working Group Recovers MNT 120 Billion in Debts Over Six Months www.montsame.mn
Prime Minister Zandanshatar Gombojav warned that the working group on Recovering State Losses has been progressing too slowly.
The working group, established by the Prime Minister’s decree on August 22, 2025, has recovered approximately MNT 120 billion in outstanding debts over the past period. However, Prime Minister Zandanshatar criticized this as insufficient compared to the total receivables of MNT 2 trillion.
Tsengel B., Head of the State Property Policy and Regulation Agency and leader of the working group, reported that efforts are underway in phases to allocate immovable properties acquired in debt settlements to the education and health sectors. In addition, unfinished buildings are being completed and put into operation through state budget funding and public-private partnerships.
For example, completing the unfinished “Shine Yaarmag” residential complex would make it possible to provide housing for teachers and healthcare workers and include them in mortgage programs. A revaluation of the buildings in the Gantig Villa complex, acquired as part of the Development Bank’s debt settlements, has also been conducted, with some buildings potentially to be used as schools and kindergartens. The working group further concluded that 52 properties could be sold through public auction.
Prime Minister Zandanshatar criticized the insufficient progress and instructed the working group to accelerate its efforts. He emphasized that without reforming the system for market valuation, recovery, and sale of assets acquired through debt settlements, progress would remain limited. In this context, he поручил the group to revise a draft law on comprehensively reforming the asset management system and present it to the Cabinet in the near future.
According to the Cabinet Secretariat, the state currently holds receivables amounting to MNT 2 trillion. Of this, MNT 482.48 billion is owed by Chinggis Khaan Bank, National Investment Bank, and Capital Bank, while the remaining amount consists of debts owed by 27 borrowers to the Development Bank of Mongolia.
Published Date:2026-03-23
