Second Economic Management Support Operation (WB-P167485)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
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 30, 2019
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
Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 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)
$ 100.00 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 @ WB website

Updated in EWS Jan 29, 2020

Disclosed by Bank Jun 27, 2019


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Project Description

According to the Bank's website, this project aims to support the Government of Mongolia in restoring debt sustainability, strengthening the social protection system and enhancing domestic economic competitiveness. This will entail three pillars of fiscal reform:

1. (i) public disclosure of the report of an external review on the operations of the Development Bank of Mongolia in 2012-17; (ii) restructuring of the Housing Mortgage Programme to better serve the purpose of affordable housing and establish a time bound plan for the Bank of Mongolia to fully exit the programme and; (iii) public disclosure of an independent special external review on the Bank of Mongolia's quasi-fiscal operations. 

2. Protecting the fiscal allocation for the social protections system during periods of macroeconomic stress. This pillar puts priority in increasing the budget provisions for the poverty-targeted Food Stamp Programme as well as other poverty targeted programmes.

3. Structural reforms to encourage competitiveness and diversification of the economy by (i) enhancing business environments by strengthening investor protection, streamlining permit requirements, and providing a level playing field between the public and private sectors through fair competition; (ii) strengthening animal health management and; (iii) improving the trade environment by lowering the costs and administrative burden of trade.  

According to the Bank, political and macroeconomic risks are high while environmental and social risks are moderate. 

Investment Description
  • World Bank (WB)
Contact Information

Implementing Agencies: MINISTRY OF FINANCE. Chimed Khurelbaatar; Minister. khurelbaatarch@me.com

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.