Mongolia to establish a sovereign wealth fund with the assistance of JP Morgan

Dec 2 • Featured, Finance, Government, News • 3412 Views • No Comments on Mongolia to establish a sovereign wealth fund with the assistance of JP Morgan

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After many discussions and negotiations the Government of Mongolia decided to establish a sovereign wealth fund with the assistance of JP Morgan. The decision was based on the minutes of cabinet’s July meetings. In relation, government authorized the Development Bank to facilitate and commit USD100 million to the fund. Also, the Finance Ministry was charged to support the establishment of the first ever Mongolian sovereign wealth fund.

 

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