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MON/004
Financial Sector Capacity Building and Training Project

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
April 2010 - 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.