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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
TYPES OF DEVELOPMENT BANKS
Policy bank a type of bank that is exists in countries
such as Japan, the PRC, th e Republic of Korea and
Malaysia, and which directly supports governmenteconomic policies and planning.
Special-purpose financial institution an entity that has
a specific organisational structure and duties such assmall- and medium-enterprise development (Thailand),
agricultural intensification (India), infrastructure
(Malaysia), environmental protection (the Federal Republic
of Germany), housing (in most countries), etc.
Universal bank a type of bank that concurrently grants
multiple types of financing in addition to developmentpolicy financing (Philippines, Indonesia and India).
Commercial development bank a bank that operates
under purely commercial principles and supports economicdevelopment (Singapore).
A DEVELOPMENT BANK IS AFINANCIAL INSTITUTION WHICHIS OBLIGATED TO PROVIDE WITHREQUIRED FINANCING ANDPROFESSIONAL ADVICES FOR
ACHIEVING THE SOCIO-ECONOMICDEVELOPMENT OBJECTIVES OF APARTICULAR COUNTRY.
WHAT IS ADEVELOPMENT BANK?
THE DEVELOPMENT BANKOF MONGOLIA ISA POLICY BANK.
As loans granted by domestic commercial baa relatively high interest rate, were shortteimposed limits on the maximum amount of
granted, financing opportunities for major p
would support economic development were
as the foreign trade balance of our country and our infrastructure development is relativ
has been necessary to create a development
On 20 July 2010, the Government of Mongo
establish the Development Bank of Mongoli
that, on 10 February 2011, the Parliament of
enacted the Law on the Development Bankstipulating that the Development Bank will b
state-owned for-profit legal entity with the
functions of conducting activities aimed at f
major projects and programmes for the deve
Mongolia.
When raising financial sources, the Developmoperates in accordance with approval obtain
of guarantee by the Government.
THE DEVELOPMENTBANK OF MONGOLIA
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
HOW BIG IS THE DEVELOPMENT BANK OF MONGOLIA?
THE TOTAL CAPITAL OF BANKS; BANKS ASSETS AS OF THE FIRST-HALF OF 2014
The Development Bank of Mongolia
Trade and Development Bank
Khan Bank
Golomt Bank
Xac Bank
UB City Bank
Capital Bank
Chinggis Khaan Bank
Capitron Bank
National Investment Bank
Erel Bank
Trans Bank
Credit Bank
State Bank
1.000 2.000 3.000 4.000 5.000 6.000
INVESTMENTS MADE BY THE DEVELOPMENTBANK OF MONGOLIA EXCEED INVESTMENTSBY THE STATES BUDGET FUNDS. THISINDICATES THE DEVELOPMENT BANKSMAJOR ROLE IN OUR COUNTRYS ECONOMY.
In billion MNT
billion MNT billion MNT
EXPENSES OFINVESTMENTS BY THESTATES BUDGET FUNDS(2013)
LOANS ANDADVANCES GRANTEDBY THE DEVELOPMENTBANK (2013)
1,447 1,686
SOURCE: The National Statistical Office
12 May 2011
Launched itsoperations
31 Dec embe r 2 01 1
CORPORATEGOVERNANCE
THE DEVELOPMENT BANKS FINANCIAL STATARE VERIFIED BY INDEPENDENT AUDITING EAFOUND THAT THE BANK COMMITTED NO VIAND ITS LOAN FINANCING IS ENSURED WITGUARANTEES IN EXCESS OF THE APPLICABLE
Nomination Subcommittee
Remuneration Subcommittee
Internal Audit Subcommittee
Assets and LiabilitiesManagement Department
Loan Department
THE DEVELOPMENT BANK OF MONGOLIFOR THE COUNTRYS DEVELOPMENT APPEACH YEAR THE PARLIAMENT WILL APPRO
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
THE DEVELOPMENT BANK OF MONGOLIA
THE STATE AND CIVIL SOCIETY REPRESENTATIVESINTERNATIONAL FINANCIAL INSTITUTIONS
SUPPORT ECONOMIC DEVELOPMENT
THE BANK IS UNDER DUTY TO FINANCE PROJECTS RELATED TO THESECTORS THAT ARE ESSENTIAL FOR ECONOMIC DEVELOPMENT
FUNDINGS FROM THE ISSUE OF BONDS AND SOFT LOANS MAINLYRAISED FROM INTERNATIONAL FINANCIAL MARKETS AS WELL ASFUNDINGS FROM OTHER INTERNATIONAL FINANCIAL INSTITUTIONS
LOANS INTEREST RATE IS LOWER AND AMOUNT IS GREATER
LOANS ARE GRANTED IRRESPECTIVE OF TIME FRAME
FLEXIBLE REQUIREMENTS IN TERMS OF COLLATERAL
MEDIUM AND/OR LONG-TERM FINANCIAL CAPACITY
THE AIM
BUSINESS OPPORTUNITIES
LOAN TERMS
STUDIESREGARDING PROJECTS
FUNDINGSSOURCES
SUPERVISION
COMMERCIAL BAN
MANAGEMENT BY THE BANK
LOAN AMOUNT LIMITATION A
SHORT OR MEDIUM-TERM LOA
STRICT REQUIREMENTS IN TERM
BALANCE AND FINANCIAL STAFINANCIAL CAPACITY OF BOR
SEEK TO INVEST IN PROFITABLBUSINESSES
MAINLY CURRENT AND SAVIN
BUSINESS PROFIT
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
CHRONOLOGY
The official opening of theDevelopment Bank of Mongoliatook place and its operationscommenced.
12 May 2011The Development Bank of Mongoliasuccessfully issued USD580 millionbonds.The Bank organised meetings with
investors in Hong Kong, Singaporeand London, the world financialmarket centres, and for thefirst time via open subscription,traded 5year bonds, guaranteedby the Government of Mongolia,of USD580 million in value atan interest rate of 5.75% in theinternational markets.
21 March 2012The Development Bank ofMongolia granted its firstfinancing to road projects.In accordance with
Government ResolutionsNos.47, 110, 106, 336, 124and 105 dated 2012, theDevelopment Bank grantedMNT202,5 billion in totalto road projects in 2012,enabling the commencementof construction of 1,280 kmof roads.
6 August 2012The Development Bank ofMongolia received an awardfrom the Bloomberg TelevisionMongolia.
During the closing ceremonyof the economic forumof Mongolia 2012, theBloomberg Television grantedits Best Debut Bond awardto the Development Bankteam that had successfullyissued the bonds, guaranteedby the Government ofMongolia, in the internationalmarkets for the first time.
31 December 2012
The Development Bank of Mongoliaand the Korea Development Bankentered into a Managementcontract. An open internationalbid was announced by the State
Property Committee for competitiveselection of an experiencedteam to implement the executivemanagement of the DevelopmentBank of Mongolia, resulting in theselection of the Korea DevelopmentBank. It was decided that the Banksexecutive management would beimplemented by a joint team fromthe Development Bank of Mongoliaand the Korea Development Bankthat had been selected through theinternational bid.
30 August 2011The Development Bank ofMongolia granted financing tothe housing-purpose soft loanproject. Under GovernmentResolution No.55 dated 2012
and for the programmeProject for granting housing-purpose soft loans to citizensat an interest rate of up to 6%per annum, the DevelopmentBank of Mongolia grantedMNT50 billion to the StateBank in 2012.
15 June 2012Under Government ResolutionNo.148 dated 2012, theDevelopment Bank ofMongolia granted USD100million financing to Erdenes
Tavantolgoi JSC. The projectsactivities will lead to thedevelopment of the mining,energy and other economicsectors.
5 October 2012MIAT JSC (Mongolian Civil AviationCorporation) purchased an aircraft of767300R model in May 2013. Thispurchase is of significant importance insupporting Mongolias aviation industry
development by increasing MIAT JSCsoperational effectiveness. Consideringthe significance of this purchase, theDevelopment Bank of Mongolia lent intotal USD83,9 million including USD5,34million toward the aircrafts advancepayment on 20 June 2012 and a bridgeloan of USD78,55 million on 7 May2013 toward the principal payment, inaccordance with Government ResolutionNo.137.
7 May 2013
Government Resolution No.180dated 18 May 2013 approved thefinance of a togrog equivalentof up to USD14 million required
for implementation of the projectHousing construction industrialcomplex1 within the scopeof the medium-term targetprogramme New Developmentand the work to provide citizenswith housing by way of enteringinto a direct loan contract in2013, and financing through theDevelopment Bank with the capitalraised via Government securitiestrading.
18 May 2013During the official visit of Prime Minister of Mongol912 September 2013, theMemorandum of Unders
Japan Bank for Internation(JBIC), which led to Monglaunch of fund raising in ycapital market, and tradingindustrial bonds Samuraithe Government of MongJapans capital market at a1,52 % per annum, and reits yen account with the M
6 January 2014
From 18 November 2013 to 1 February 2014,jointly with the Bloomberg Television Singapore,the Development Bank of Mongolia organisedan advertising campaign Inside Mongolia.This aimed at raising Mongolias international
reputation, introduction to the investmentenvironment and creating a positive impressionwith investors. Within the scope of this work,90-second short editorial broadcasts forinvestors covering five topics and 30-secondcommercials were cast. These resulted in over2,887,500 comments being received via thewww.bloomberg.com website.
18 November 2013
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
THE TOTAL ASSETS OF
THE DEVELOPMENTBANK OF MONGOLIAWAS MNT4,493.8BILLION AS OF 30 JUNE2014, A 1.4-FOLD RISECOMPARED TO THE ENDOF THE PREVIOUS YEAR.
FINANCIALINDICATORS
In billion MNT
0
50
100
150
200
49 67
143,8
175,1
2011 2012 2013
In billion MNT(halfyear)
(halfyear)
0
1.000
2.000
3.000
4.000
2011 2012 2013 2014
2014
77
888
3,231
4,493.8TOTAL ASSETS
TOTAL EQUITY
In billion MNT
In billion MNT
0
1.000
500
1.500
2.000
2.500
2011 2012
494
-10
0
10
20
30
(6)
(1)
2011 2012
LOANS AND ADVANCES
NET PROFIT AFTER TAX
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
THREE-YEAR FINANCIAL INDICATORS
* The Development bank paid MNT 23,4 billion in full, to the states budget, in incorporate income tax imposed as of the first-half of 2014.
The first-halfof 2014 2013 2012 2011
TOTAL ASSETS 4,493.8 3,230.9 888.1 76.9
Cash and cash equivalents 937.8 379.5 216.5 75.8
Bank deposits 709.7 652.3 168.9 0.0
Loans and advances 2,799.6 2,179.6 493.6 0.0
Investment 10.0 - - -
Other assets 11.3 6.0 2.3 0.0
Current income tax prepayment - 3.8 0.0 0.0
Fixed assets 0.6 0.6 0.2 0.2
Intangible assets 0.8 0.8 0.7 0.8
Deferred tax assets 24.0 8.2 5.9 0.0
TOTAL LIABILITIES 4,318.6 3,087.0 821.1 27.8
Customer accounts 23.0 16.3 0.0 0.0
Customer accounts 2.2 0.4 0.5 1.1
Current income tax payable* 15.2 0.0 3.3 0.0
Due to other banks 57.3 111.0 0.0 0.0
Bonds 1,698.2 972.1 817.3 26.6
Borrowings 2,522.7 1,987.2 0.0 0.0
TOTAL EQUITY 175.1 143.9 67.0 49.1
Contributed capital 143.8 123.3 73.3 49.7
Retained earnings 31.3 20.6 (6.3) (0.6)
TOTAL LIABILITIES AND EQUITY 4,493.8 3,230.9 888.1 76.9
BALANCE INDICATORS (In billion MNT)
Unaudited
NET INTEREST INCOME/(EXPENSE)
Interest income
Interest expense
Provision for loan impairment
Gains less losses from trading in foreign currenci
Foreign exchange translation gain/losses
Administrative and other operating expenses
PROFIT/(LOSS) BEFORE TAX
Income tax (expenses)/return
PROFIT/(LOSS) FOR THE YEAR
INCOME STATEMENT INDICATORS
Return on equity (R)
Return on assets (R)
Net interest margin (NIM)
Capital adequacy ratio (CAR)
KEY FINANCIAL RATIOS
(In
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
THE DEVELOPMENT BANK IS UNDER DUTYTO RAISE FUNDS, TO A CERTAIN EXTENT,
FOR FINANCING MAJOR PROJECTS ANDPROGRAM FOR THE DEVELOPMENT OFMONGOLIA. THROUGH COOPERATIONWITH FINANCIAL INSTITUTIONS OFINTERNATIONAL REPUTE, THE BANKSUCCESSFULLY RAISED THE REQUIREDFUNDS IN THE PAST.
IN JANUARY 2014, THEDEVELOPMENT BANK OF MONGOLIASUCCESSFULLY TRADED JPY30BILLION BONDS TERMED FOR10 YEARS GUARANTEED BY THEGOVERNMENT OF MONGOLIAAND THE JAPAN BANK FORINTERNATIONAL COOPERATION(JBIC) TO JAPANESE INVESTORS,FURTHER STRENGTHENING ITSSUCCESS WITH THE 2011 MEDIUM-TERM USD BONDS.
INDUSTRIAL BONDSSAMURAI
FUND RAISINGOPERATIONS
FINANCING BY THE EX-IM BANK OF THE
The Development Bank granted in total USD
which is bridge financing and an advance re
payment of an aircraft of Boeing767 30
be purchased by MIAT SOJSC from Boeinof the USA, in the first phase, within the sc
Mongolian Governments Action Plan for 20
the state policies in relation to the civil aviatthe period until 2020. Also, the Bank jointly
re-financing, using long-term funds guarant
Ex-Im Bank of the USA.
FINANCING BY THE COMMERZBANK
The Bank entered into a contract with the Co
on 28 April 2014 in order to raise EUR13,1 miwas required for implementation of the proje
construction industrial complex1 within the
the medium-term target programme New Dand the work to provide citizens with housin
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
LENDING ANDFINANCINGOPERATIONS
Within the scope of the resolution
enacted by the Government of Mongolia
regarding the financing throughthe Development Bank, loans have
been granted to the road, railway,
manufacturing, mining, power plant,aviation and infrastructure investment
sectors as well as housing finance
and small- and m edium-enterprise
development funds, on terms wherebythey are repayable from the states
budget, and also from proceeds of the
projects. Such financing was granted toprojects in implementation within the
scope of the economic development
policies for increasing export,
substituting import and supportingindustrialisation.
Projects name Using fundsfrom the issue ofChinggis bonds
From theDevelopmentBanks resources
Total financing
Repayable from the states
budget revenues596.7 371.1 967.7
Roads 396.8 364.6 761.3
The Street project 54.8 0 54.7
Infrastructure 145.1 3.8 148.8
The Mongolian StockExchange
- 2.7 2.7
Repayable from proceedsof the projects
767.1 1.026.6 1.793.6
Roads 0 170.6 170.5
Power plants 33.4 146.0 179.4
Railway 324.1 41.1 365.1
Housing finance - 106.6 106.6
Industrial ComplexSainshand
- 6.3 6.2
SME Development Fund - 45.8 45.7
Aviation 5.3 0 5.2
Mining 23.4 381.9 405.2
Housing construction 84.7 14.3 98.9
Agriculture & light industry 270.7 0 270.7
Construction materials 25.5 114.1 139.6
TOTAL 1.363.8 1.397.6 2.761.4
THE DEVELOPMENT BANKSTOTAL LOANS AND ADVANCES (as of 30 June 2014)
In billion MNT
LOAN FINANCINGSOURCES
R
38
Power plants
10.5%
Constructionmaterials
8.0%
Housing program
finance
7.7%
Others
8.0%
Mining
27.4%
PROJECTS FINANCED WITH THE DEVELOPBANKS OWN RESOURCES
1,397.6billion MNT
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
PROJECTS BEING FINANCED WITH FUNDS FROM THE ISSUE OF CHINGGISBONDS AND THE DEVELOPMENT BANKS OWN RESOURCES
ROADS
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014*
1.600
1.800
1.400
1.200
1.000
800
600
400
200
209.3billion MNT
BALANCE
FINANCED
157
724
1.020
at the end of the first-half of 2014
km
km
km
535.2billion MNT
THE DEVELOPMENT BANK
396.8billion MNT
CHINGGIS BONDS
kmTOTAL FINANCING APPROVED BY
GOVERNMENT RESOLUTIONS
IN TOTAL
billion MNT1141.3
The Development Banksconcurrent financing forroad projects along withtheir monitoring consultancycompanies will lead to theincrease of the effectivenessof those projects and the roadquality improvement.
IN TOTAL
billion MNT932.0
assumption
FINANCED WITHFUNDS FROM THE
ISSUE OF CHINGGIS
BONDS AND THE
DEVELOPMENT BANKS
OWN RESOURCES
FINANCED WITH
OTHER SOURCES
RAILWAY
22.THE DEVELOPMEN
million
With the Tavantolgoi-Gashuunsukhait railroadbeing brought into operationin 2016, transport costs willbe reduced by 50% and thecompetitiveness in export ofraw materials ofmining-origin will increase.
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
URAL ROADPROJECTS INIMPLEMENTATIONFINA CED BY THEDEVELOPMENTBANK OFMONGOLIA
PROJECTS BEING FINANCEDBY FUNDS FROM THE ISSUE OFCHINGGIS BONDS
128 km Altai Bayankhongor road
Budgeted costs: 54.4
100 km Mankhan Darvi road
Budgeted costs: 42.9
100 km Ulaangom Khyargas road
Budget costs: 45.0
67 km Tosontsengel Uliastai road
Budgeted costs: 38.2
90 km Ulaangom Naranbulag road
Budgeted costs: 49.5
Naranbulag
Songgino
Myangad
Bulgan
Bugat
Buutsagaan
Durvuljin
Khovd
Ulaangom
Altai
Ulaanbaishint
Artssuuri
K
Dayan
Burgastai
Durgun
Darvi
Shiveekh
Gurvantes
Tsagaankhairkhan
Delger
Tugrug
Bayanleg
Bogd
Numrug
Telmen
Uyench
Gurvanbulag
Tsagaannuur
Ulgii
Khandgait
MankhanUliastai
Rashaant
Teshig
Basengel
Arvaikheer
Murun
Erdenet
Darkhan
Ulaanbaatar
Sainsh
Mandalgovi
Dalanzadgad
Baga-Ilenkh
hankh
Altanbulag
Gashuun-Sukhait
Kharkhorinetserleg
Tushig
Zelter
huren
Sukhbaatar
Buregkhangai
Zuunmod
Tarialan
A
Undur-Ulaan
Nariinteel
Tsogsetsii
Nalaikh
Baganuur
Bagakhangai
luut
Lun
nkhongor
Tsogt-Ovoo
U
107 km Arvaikheer Bayankhongor road
Budgeted costs: 45.4
100 km Khanzanburgedei Solongot road
Budgeted costs: 46.4
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
PROJECTS FINANCED WITH FUNDS FROM THE ISSUE OF CHINGGISBONDS AND THE DEVELOPMENT BANKS OWN RESOURCES
POWER AND HEATING PLANTS
EXPANSION OF THE COMBINEDHEAT AND POWER PLANT III
EXPANSION OF THE COMBINEDHEAT AND POWER PLANT IV
31.5 48.5MILLION USDThis expansion will enable a50 megawattcapacity, whichis higher than the Darkhan
CHPs. When it is operational, 1
kW-power generation costs will
reduce from MNT74.7 to MNT36.
Power generation will increase by
over 500,000,000 kW.h, and heatgeneration by 400,000 Gcal/h
these equate to 10% of the current
consumption.
THE TAVANTOLGOIPOWER PLANT
THE EG RIVERHYDROELECTRIC PLANT
14.8
3.5
Value added products will be manufactured
using thermal coal from the Erdenes
Tavantolgoi and Ukhaa Khudag mines, and
energy for the Oyutolgoi Project will besupplied with domestic sources.
Mongolia will have a regime adjustment and
emergency backup capacity, thereby achievingdiversification in terms of the power regime.
Also, USD10 million cash flow, which is paid
annually to the power grid of the Federation
of Russia will be retained in Mongolia.
HOUSING, CONSTRU
THE SOHCS MICRO-DISTRICT
BUYANTUKHAA I
RE
TO
184.7
NT50 billion financincontract between thMinistry of Financeand the State Bank
THRE
billionMNT
THE STATE BANKS HOUSINGLOANS AT AN INTEREST RATE OF 6%
80 billionMNT
Individuals of target groups will beable to purchase at a price 40%cheaper than the market rate, i.e.,MNT1,28 million per square metre.
1.280.000
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
PROJECTS FINANCED WITH FUNDS FROM THE ISSUE OF CHINGGISBONDS AND THE DEVELOPMENT BANKS OWN RESOURCES
AGRICULTURE AND LIGHT INDUSTRY
40.1%
26.2%
16.1%
9.7%
7.9%
SUPPORT THE WOOLAND CASHMEREINDUSTRY
MILK AND DAIRYPRODUCT FACTORY
GREENHOUSEFARMING
WOOLPROCESSINGAND WASHING
SEWN PRODUCTFACTORY
BEING GRANTEDTHROUGHGOLOMT BANK
270.7BILLION MNT
FINANCING WITH FUNDS FROM
THE ISSUE OF CHINGGIS BONDS
OTHER PROJECTS FINANCED WIBONDS AND THE DEVELOPMENT
89MIAT SOJSCSAIRCRAFT
61BASEMENT LLC(KHUTUL CEMENT)
48SMALL AND MEDIUMENTERPRISE DEVELOPMENT
6INDUSTRIAL COMPLEXSAINSHAND
MILL
MILL
BILLI
BIL
Mongolias aviation sector development will be suppo
increasing MIAT JSCs operational efficiency and updating
fleet wit
With granting soft loans to 62 small and medium
manufacturers for expanding their factories and plants, job owill increase and the populations livelihood w
An industrial zone will be created, providing over 2,700 in
rural areas with job opportunities and increasing export
Will supply approximately 40% of domestic cemen
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THE DEVELOPMENT BANK OF MONGOLIA
PROJECTS AND PROGRAMMES
FINANCED WITHIN THE SCOPE OF
THE EXPORT PROMOTION AND
IMPORT SUBSTITUTION POLICIES
Increase the export of coal from
the Tavantolgoi deposit
Increase the export of wet
iron ore concentrate
500.1
FINANCING AIMED AT THE
CAPITAL CITYS SOCIO-
ECONOMIC DEVELOPMENT
Create new electricity and heat
sources in the capital city
Increase housing supply
844.1
FINANCINGAIMED AT
THE SOCIO-ECONOMIC
DEVELOPMENT IN RURAL AREAS
Support stable employmentin rural areas
Connect rural areas tonational and foreign markets
697.0
790.2
230.4
45.1
160.7
892.1
258.9
45.3
234.5
846.9 580.8
44.6
IN TOTAL
959.7BILLION MNT
CHINGGIS BONDS:
CHINGGIS BONDS:
CHINGGIS BONDS:
IN TOTAL
891.3BILLION MNT
IN TOTAL
626.3BILLION MNT
FINANCED PROJECTS AND
Increase the export of
non-mineral resources
Substi
constr
Improve housing ownership capability of
medium-income individuals
Suppo
in the
Support urbanisationin rural areas
176.5
275.5
33.0
90.0
82.2
31.1
90.0
0.4
THE D
THE DEVELOPMENT BANK
a pp ro ved gr an
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
With the Development Banks financing, the project to
expand the capacity of the Combined heat and power
KHUTUL CEMENTAND LIME JSC
With the Development Banks loans, the dry method plant
will increase the Khutul cement production capacity to
1,000,000 TONSper year. The plant was fully commissioned and brought
into operation in May 2014.
With the Development Banks financing, construction
work of
SOME MAJOR PROJECTSSUCCESSFULLY COMPLETED WITH THEDEVELOPMENT BANKS FINANCING INTHE FIRST-HALF OF 2014
BAGANUURJSC
THE COMBINED HEATAND POWER PLANT III ROADS
plant III bysuccessfully implemented,
commissioned and brought into
operation on 16 June 2014.
The coal crushing and loading capacity
has increased to 4,500,000 tons per yearand enabled the continuous coal supply to
heating plants and ger district households.
50 267 KM
4.5This plant is able to supply
40%
of the UlaanbaatarMandalgovi
Dalanzadgad road has been completed
and is ready to be handed over to theState Commissioning Authority.
km
megawatts
of domestic cement demands.
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THE DEVELOPMENT BANK OF MONGOLIA
SUMMARY REPORT FOR THE FIRST-HALF OF 2014
www.dbm.mnwww.dbm.mn
loor 2, Max Towerloor 2, Max TowerJuulchin Street 4/4Juulchin Street 4/4
Ulaanbaatar 15170, MongoliaUlaanbaatar 15170, MongoliaTel: 70130512Tel: 70130512ax: 70130602ax: 70130602
Me iaReations@ m.mnMe iaReations@ m.mn
THE DEVELOPMENT BANK OF MONGOLIA