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Happy Monday! Embrace your inner penguin to survive Mongolia’s winter—hands out, tiny waddles, and a stylish forward lean. Because nothing says "winter pro" like shuffling down icy streets with the grace of a flightless bird! 🐧

Today’s newsletter in 3 sentences…

• 💰 Budget Resubmission Deadline

• 🧳 Lead W/ EBRD’s Head in Mongolia

• 🏦 IFC Issues First & Largest Bond in Mongolian MNT

Let’s Dive In. 🌊

MARKET

• ADB: The Asian Development Bank partners with APU Dairy through a $20 million financing agreement to revolutionize Mongolia’s Dairy industry.

• GOV: The government’s deadline to resubmit the 2025 budget proposal to parliament is set for the 10th of December.

• OTC: The OTC market raises ₮934.7 billion in the third quarter.

🧳 Hannes A. Tacaks: Leadership Requires Loyalty to Your Team 

Welcome to the third edition of Lead W/ by Inside Mongolia! This time, we’re thrilled to walk you through the journey and leadership philosophy of Mr. Hannes A. Tacaks, Head of EBRD in Mongolia. Dive into the insights behind his visionary approach, his commitment to positive change, and how his rich experiences have shaped his impactful leadership style.

Mr. Hannes A. Tacaks is a visionary leader whose career reflects a powerful mix of entrepreneurial spirit, financial expertise, and a dedication to social impact. From launching his own companies to guiding capital market development for 54 countries, he has continuously pursued innovation and positive change.

🏦 IFC Issues First & Largest Bond in Mongolian MNT

The International Finance Corporation (IFC) issues its first bond in Mongolian MNT, marking it as the largest bond in MNT issued by a supranational entity. The 3-year bond raises ₮102.5 billion, boosting liquidity in Mongolia’s offshore MNT market and supporting IFC’s efforts to foster economic growth and improve livelihoods.

• 🤝 Key Participants and Arrangements: Global Evolution, a Danish investment bank, acts as the sole investor, and Standard Chartered arranges the bond. It lists on the Luxembourg Stock Exchange, with TCX providing the swap. 

• Over the past decade, Over the past decade, IFC has supported the growth of Mongolia’s financial markets through advisory roles on green bond regulations and investment in green bonds, including Mongolia’s first-ever green bond issued by Khan Bank (KHAN ) in 2023. With bonds issued in 48 currencies, IFC often leads in emerging markets, enhancing local market development and liquidity.

📊 Overview of Bonds Issued in Mongolia  

This year, Mongolia issues 6 bonds, with Ulaanbaatar City’s UB bond leading at ₮500 billion. 3 of these bonds are in USD, and the Shunkhlai Bond, set to debut on December 3, aims to raise ₮80 billion. Together, these bonds raise ₮835 billion, with the addition of Shunkhlai’s bond bringing the total to ₮915 billion.

📈 The State of Mongolia’s Bond Market

Mongolia's bond market shows steady growth and resilience despite economic challenges. Government and corporate bonds play a vital role in funding infrastructure projects and driving economic progress. Both local and international investors actively participate, motivated by Mongolia's mineral wealth and strategic development plans. Green bonds gain significant traction this year, reflecting the nation's commitment to sustainable finance. Out of the six bonds issued in 2024, 3 are green bonds, highlighting the shift towards environmentally conscious investment options.

In conclusion, the IFC’s issuance of its first Mongolian MNT bond marks a significant development for Mongolia’s financial market, underscoring its resilience and growth. This initiative not only enhances market liquidity but also supports the country’s economic development goals. The issuance reflects a broader trend in Mongolia’s bond market, which includes strong participation from both local and international investors and an increasing focus on sustainable finance, as seen with the popularity of green bonds. With IFC’s continued efforts to foster local capital market growth, the market remains on a positive trajectory, providing a stable foundation for future economic expansion.

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⭐ Selected for you

ECONOMY & BUSINESS

• Mongolia’s Financial Revolution: Bridging Green and Social Investments for Vision 2050. (Devdiscource)

• Tighter Fiscal Policy Can Help Mongolia Control Inflation. (IMF)

• EBRD Supports Expansion of APU Dairy. (EBRD)

POLITICS

• ICC Turns Down Appeal Tequest from Mongolia over Failure to Arrest Russia’s Putin. (TheStraitsTimes)

• Japan to provide defense equipment for 4 countries in Asia and Africa. (NHKWorld)

• India, Mongolia in Talks for Preliminary Mining Pact. (Reuters)

• Mongolia Launches Nationwide HPV Vaccination Campaign to Combat Cervical Cancer. (ilkha)

CULTURE & LIFESTYLE

• Mongolian Woman Who Works at Visa International. (LemonPress)

• My Paradise: My Solo Trip to Mongolia. (StarsStripes)

• The Mongol Khan is Coming to Japan. (MongolKhan)

• The MongolZ win Thunderpick World Championship title. (Yardbarker)

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.