Mongolian News

Mongolia will stabilize the development of its coal industry and raise over 90 million tons of coal capacity in 2009. This will make a great contribution towards economic development.

International donors will give Mongolia a 160 U.S. million dollar loan to help the country cope with its current financial crisis. The agreement was made between The World Bank, Asian Development Bank, and Japan. During the first two months of this year, Mongolia's foreign trade declined 50%. This country's economy is driven on exports, so this economic rescue plan is being implemented to reduce the financial turmoil.