ADB helps stabilize banking sector
Mongolia’s government agreed with the Asian Development Bank on implementing a Program on Restoration of Banking and Strengthening Financial Stability.
ADB helps stabilise banking sector. Mongolia’s government has agreed with the Asian Development Bank on implementing a Program on Restoration of Banking and Strengthening Financial Stability in order to compensate the financial deficit in banks to fulfil gaps of payment. The program includes 12 key measures to be taken, including establishing an asset management company, introducing a system that will be capable of resolving debt pressures of banks, configuration of some laws and regulations in order to ensure financial stability, improving monitoring and evaluation and governance in banking. The loan repayment term is 15 years, with the alleviation of principal payment in the first three years.
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