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Economy / Featured News / Mongolia News / July 7, 2014

Investment fund to be established

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The Parliament of Mongolia passed the Law on Investment in October 2013. Its supporters believe that implementation of the law might positively influence the financial market, investment environment as well as the macroeconomic situation of the country.
The council organized to intensify the economy has finished developing its guidance to establish an state investment fund, which will make proactive development investments. The government anticipates that a decision will be made to finance the establishment of the investment fund through Development Bank in its first phase.
With the formation of the investment fund, capital invested by the government will be used as leverage, and it would be possible to raise money from other investors equivalent to five times the minimum capital required by Development Bank. Capital would be attracted as investment, not a loan, which means there would be no pressure in terms of debt.

SOURCE: Ubpost

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