Ulaanbaatar
Mongolian share in IBRD capital stock to be raised
PoliticsUlaanbaatar /MONTSAME/ In yesterday’s cabinet meeting, the Government decided to increase Mongolian share in capital stock of International Bank for Reconstruction and Development of the World Bank group by 143 shares par value of USD120.635 and to grow up its special shares by 71.
The increased shares are believed to allow Mongolia to hold active foreign policy, to realize long-term goal to strengthen its position in the world economy through international financial institutions and utilize concessional financial sources from international banks and financial institutions.
Share in the bank’s capital stock accounts for voting power and ceiling for the bank’s financing and Mongolia has 0.06 per cent vote.
