ARAB INVESTMENT FUND TO BE SET UP IN AUGUST 2015

During the recent visit to the United Arab Emirates (UAE) of Prime Minister Ch.Saikhanbileg, and Finance Minister Kh.Gantsogt, a Memorandum of Understanding (MoU) was signed with the Arab CIB Finance Group to establish a USD 1 billion Investment Fund in Mongolia. Prime Minister Saikhanbileg noted – the signing of the MoU, now makes it possible to finance big constructing projects via this fund.  The Finance Minister informed – CIB group has planned to choose the location for the investment fund in August 2015. The investment fund will be organized as an entity to finance private sector projects in Mongolia. The Government is not able to interfere in the activities of fund; therefore the USD 1 billion investment will not affect the debt limit of national Gross Domestic Product (GDP).

The representatives of the Dubai  and Abu-Dhabi  Chamber of Trade and Industry will visit Mongolia to identify the most suitable projects and sectors for investment.

Source: news.mn