Mongolia Country Update #1
1 November 2007
Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Mongolia.
Mongolia Country Updates provide information about recent developments, decisions, and civil society activities related to IFI involvement in Mongolia including that of the World Bank (WB), International Finance Corporation (IFC), International Monetary Fund (IMF), European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB). If you would like to be included in or removed from the distribution list, please e-mail the moderator, George Holliday, at . Correspondence with BIC may be conducted in Russian.
The Bank Information Center (BIC) partners with civil society in developing and transition countries to influence the World Bank and other IFIs to promote social and economic justice and ecological sustainability. BIC is an independent, non-profit, non-governmental organization that advocates for the protection of rights, participation, transparency, and public accountability in the governance and operations of the World Bank, regional development banks, and IMF. For more information about BIC, see www.bicusa.org.
I. IFI Project Activities
EBRD discloses project summary document (PSD) for Eldev coal mine project
The project, which has passed structure review and for which final review is pending, will allow the MAK Company to expand operations at its Eldev coal mine. The board date for the project is set for 6 November 2007.
MAK Project Summary 6 September 2007 (EBRD Website)
WB approves $33 million loan for rural livelihood project
The Board of the World Bank has approved an investment credit and a grant in the amount of $33 million for the second phase of the three-phase Adaptable Program Loan (APL). This project, the Sustainable Livelihood Project II (SLPII), is expected to have a four-year duration beginning in September 2007. The objective of SLP II is to increase institutional mechanisms to reduce risks to vulnerable communities in Mongolia.
Press Release 19 June 2007 (WB Website)
II. Consultations and Policy Updates
Government of Mongolia signs Memorandum of Understanding (MoU) with international financial institutions
The Government of Mongolia signed a MoU with the World Bank, the International Finance Corporation, the Asian Development Bank, and the European Bank for Reconstruction and Development.
Press Release 30 April 2007 (WB Website)
Memorandum of Understanding - Mongolia (Acrobat pdf, 128 KB)
Communities and Small-Scale Mining (CASM) holds annual meeting in Ulaanbataar
The 7th annual conference was held from 8-12 September 2007 in Ulaanbataar, Mongolia. Established in 2001, CASM is located at the World Bank and is chaired by the Department for International Development (DfID). CASM is a multi-donor networking and coordination facility established in response to the need to address artisan and small-scale mining (ASM) communities.
CASM Website
2007 Annual Meetings of the European Bank for Reconstruction and Development
The EBRD held its 2007 Annual Meetings from 20-21 May in Kazan, Republic of Tatarstan, Russian Federation.
Update 15 May 2007 (BIC Website)
2007 Annual Meetings of the Asian Development Bank
The ADB marked its 40th year of operation in Kyoto, Japan.
Update 7 May 2007 (BIC Website)
III. Civil Society Activities
Central Asia NGO forum on ADB issues comments to Asian Development Bank, 20 September 2007
On 20 September 2007, the CA NGO Forum on ADB issued comments on Long-Term Strategic Framework and other documents.
NGO Forum Comments (ENG) September 20, 2007 (Acrobat pdf, 36 KB)
NGO Forum Comments (RUSS) September 20, 2007 (Acrobat pdf, 234 KB)
Civil society compares ADB safeguard policies with peer institutions
Civil society organizations monitoring the ADB determine that the Bank needs to significantly improve its Safeguard Policy.
Update 20 September 2007 (BIC Website)
ADB completes consultation process on draft Energy Strategy
The ADB completed the consultation period on its draft Energy Strategy on 27 July 2007. There was a 60-day comment period after the draft’s release.
Update 17 August 2007 (BIC Website)
ADB releases draft Energy Strategy for 60-day comment period
On 28 May 2007, the ADB released its draft Energy Strategy for a 60-day comment period.
Update 7 June 2007 (BIC Website)
NGOs organize panel discussion on ADB Safeguards Policy
Civil society organizations held a panel to discuss ADB Safeguards Policy during the 40th Annual ADB Meetings in Kyoto, Japan.
Update 17 May 2007 (BIC Website)
EBRD begins civil society engagement in review of its environmental policy
On 11 May 2007, the EBRD released a Discussion Paper outlining its new environmental policy. There is a 45-day comment period for civil society before the EBRD prepares a draft of the policy.
Update 15 May 2007 (BIC Website)
Civil Society Points to Weak Transparency of ADB Safeguards Policy Update
Civil society organizations from 14 countries have written a letter outlining transparency issues in the ADB’s Safeguards Policy Update.
Update 8 February 2007 (BIC Website)
IV. Additional Resources
Country Updates and related reports can be found on BIC’s website on the Mongolia page.
Mongolian cabinet agrees to deal on Oyu Tolgoi copper and gold project
The Mongolian cabinet approved a draft investment agreement with Ivanhoe Mines regarding the development of the Oyu Tolgoi copper and gold project in the Gobi Desert.
Article 27 June 2007 (Reuters Website)
Mongolian Parliamentary delegation visits World Bank for meeting about mining best practices
A group of Mongolian parliamentarians visited the World Bank in Washington, DC for discussions on global best practices in the mining sector, specifically regarding Oyu Tolgoi copper and gold project as well as Tavan Tolgoi coal project.
Press Release 1 October 2007 (WB Website)
World Bank releases governance indicators report
On 10 July 2007, the World Bank released Governance Matters, 2007: Worldwide Governance Indicators 1996-2006.
Press Release 11 July 2007 (WB Website)
Report (Governance Matters 2007 Website)
World Bank releases report on facilitating economic growth in Eastern Europe and Central Asia
The new report, Fiscal Policy and Economic Growth: Lessons for Eastern Europe and Central Asia, was released July 2, 2007. The Bank study concludes that public spending and tax reforms can encourage economic growth in the region.
Press Release 2 July 2007 (WB Website)