Development Bank management team selection kicks off

The Government of Mongolia established “The Mongolian Development Bank” and approved its capital on July 20 2010, during its Cabinet Meeting. According to the paragraph two of the resolution, the Government provided direction to the State Property Committee and National Development and Innovation Committee to select management of the bank as foreign, experienced, professional and independent body. As part of this decision, management team selection procedure kicks off today.

The State Property Committee approved Term of Reference, Draft contract with the management team and Announcement materials during its regular meeting, held on September 9, 2010.