DBM begins disbursing funds

As of October 30, 2012, the Development Bank of Mongolia has disbursed the funds of MNT 354.4 billion to the following projects: ·         MNT 74.4 billion for 20 auto road construction and 21 design and drawing projects, ·         MNT 40 billion for 6% mortgage loan to the State Bank, ·         MNT 8.2 billion to SME Development Fund, ·         USD 100 million to Erdenes Tavan Tolgoi LLC for railroad project, ·         USD 61.3 million for expansion work of Khutul Cement and Chalk LLC, and ·         USD 5.3 million for the purchase of new airplanes to MIAT LLC. The Bank is planning to disburse MNT 672.7 billion by the end of this year. http://www.dbm.mn/en

DBM receives Bloomberg Award for Debut Bond

Development Bank of Mongolia received Bloomberg Award at the closing reception ceremony of Mongolia Economic Forum 2013 for the issuance of first sovereign bond in the international market. DBM issued US$580,000,000 bond which is due 2017 on March 14, 2012 at a comparatively low interest of 5.75%. This landmark transaction opens international bond market to Mongolian borrowers and it was the cornerstone for the successful issuance of US$ 1.5 billion Chinggis Bond on December 29, 2012.