Information
This project is closed since 30.06.2016.
- Country
- Mongolia
- LuxDev's Regional office
- Asia Office
- Partner execution agency
- Financial Regulatory Commission
- Implementation period
- 28 April 2010 - 30 June 2016
- Total duration
- 74 months
- Total budget
- 2,265,000 EUR
- Contribution breakdown
-
- Luxembourg Government
2,065,000 EUR - Local Contribution
200,000 EUR
Mid-term evaluation
Final evaluation
The Mongolian banking sector has stabilised and strengthened since the banking crisis of the 1990s. The Government of Mongolia has started to build the basic foundation for the non-bank financial sector. However, the financial sector's role in promoting economic growth is still limited. Additional efforts are being made in order to further develop the financial institutions so as to be in compliance with international standards.
Project MON/004 Financial Sector Capacity Building and Training Project assists the Government of Mongolia in building further foundations for a continued transparent, well governed, well regulated, and competitive financial sector. This ensures that resources can be allocated to the private sector more effectively and efficiently, and further access to finance for all interested parties and market players in Mongolia.
Through specialised training given to financial institutes, paired with better planning and management, the Financial Regulatory Commission will be able to pursue its regulatory and supervisory mission.