Establishing Sovereign Wealth Fund Management Institution (ADB-51082-001)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 4, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Sep 12, 2017

Disclosed by Bank Jul 4, 2017


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Project Description
The proposed knowledge and support technical assistance (TA) will support the Government of Mongolia to (i) establish a sovereign wealth fund (SWF) management institution1 with proper governance and accountability mechanism, and (ii) provide a capacity development program for required skills and staff. The TA will help the government (i) institutionalize effective SWF management mechanism based on transparent governance structure and proper accountability mechanisms, (ii) develop and implement the capacity development plans for required skill sets and human resources, and (iii) produce policy recommendations and guidelines for establishing and supervising the FHF based on research and international good practices.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Financial Policy Department of the MOF Zasgiin gazryn II bair, S. Danzangiin gudamj 5/1r Ministry of Finance Government Building-2 Negdsen Undestnii gudamj-5/1 Ulaanbaatar-210646, Mongolia ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main