Government decided to increase Mongolia’s share in capital stock of World Bank Group

Oyundelger 2017-02-03 06:02

Politics

The share is estimated to be raised by 143 shares par value of USD120.635 and to grow up its special shares by 71.

Government decided to increase Mongolia’s share in capital stock of International Bank for Reconstruction and Development of the World Bank group. The share is estimated to be raised by 143 shares par value of USD120.635 and to grow up its special shares by 71. The increased shares are believed to allow Mongolia to conduct active foreign policy, to implement long-term goal to strengthen its position in the world economy through international financial institutions and utilize concessional financial sources from international banks and financial institutions. Share in the bank’s capital stock accounts for voting power and ceiling for the bank’s financing and Mongolia has 0.06 per cent vote.