June 2025
04Jun

Mongolia. Draft Law on Private Supplementary Pensions to Be Submitted

During its regular session on June 4, 2025, the Cabinet of Mongolia discussed the draft Law on Private Supplementary Pensions and decided to submit it to the State Great Khural (Parliament) of Mongolia. The draft Law is designed to regulate the implementation of private supplementary pension programs, the accumulation of supplementary pension funds, investment of pension funds, provision of private supplementary pensions, inheritance of pensions, the creation of databases, monitoring, and the protection of stakeholders' rights and interests. The adoption of the Law...

June 4, 2025
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February 2020

21Feb

Mongolian commercial banks resume providing loans to pensioners

Mongolian commercial banks have resumed providing loans to pensioners, the country's Minister of Labor and Social Protection Sodnom Chinzorig said Friday. The resumption started on Thursday after the loans of all pensioners in the country have been written off, Chinzorig told a press conference. Mongolian President Khaltmaa Battulga announced the decision on Dec. 31 to write off the loans of all pensioners to help them get out of debt when he extended New Year greetings via media. On Jan....

February 21, 2020
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January 2020

02Jan

Mongolia to write off loans of all pensioners

The National Security Council of Mongolia led by the country's president has decided to write off the loans of all pensioners in the country. President Khaltmaa Battulga announced the decision on Tuesday night while extending New Year greetings to his people via media. "I am happy to announce that the National Security Council of Mongolia has decided to pay off the loans of all pensioners ... with the aim to help them get out of debt," he said. It...

January 2, 2020
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December 2017

01Dec

World Bank Supports Mongolia’s Reforms with US$120 Million Financing

The World Bank’s Board of Executive Directors today approved US$120 million in financing to support Mongolia’s efforts to restore debt sustainability, strengthen the social protection system, and enhance the competitiveness of the economy. The Mongolia Economic Management Support Operation First Development Policy Financing (DPF) comes at a critical juncture and aligns with the country’s moves towards strong policy adjustment. A sharp drop in commodity prices and foreign investment, compounded by expansionary policies, created severe economic challenges for Mongolia. The budget...

December 1, 2017
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