Mongolian Economy and Finance

A formal announcement is yet to be made but it is almost certain that Energy Regulation Board will go ahead with its previously declared intention to raise electricity price in Ulaanbaatar from May 1 charging MNT110 for a unit instead of the present MNT79. The board has mentioned two basic compulsions behind its decision.

Korea’s largest water development aid projects yet will kick off in three Asian countries with the aim to better the lives of millions of people, the Korea International Cooperation Agency has said. The agency, as part of the East Asia Climate Partnership, will start projects in Mongolia, Azerbaijan and the Philippines with an estimated budget of USD69 million, hoping to directly affect 639,000 lives and indirectly affect countless more.