Улаанбаатар
Government to make special funds’ activities transparent to public
Society
Ulaanbaatar/MONTSAME/ At the Cabinet meeting on February 20,
Minister of Finance Ch.Khurelbaatar reported about results of inspections
carried out in special funds of the government.
He said, “The Ministry of Finance conducted inspections in ‘Farmers’
Promotion Fund’, ‘Livestock Protection Fund’, ‘Small and Medium-sized
Enterprises Promotion Fund’, ‘Education Loan Fund’ and ‘Auto Road Fund’. Based
on the results, the funds to be abolished will be resolved at next week’s
Cabinet meeting. In the process of the inspections, 319 entities were found to
have received loans from two funds concurrently. Also, there were entities that
received loans from FPF, SME Promotion Fund and LPF concurrently. As information
on loans of the special funds is not transmitted to data of the central bank, the remainder
of outstanding loans of the funds has reached MNT130 billion. But it has
declined to MNT100 billion since the inspections commenced. The Government will
focus on making activities of the special funds transparent and open and
ensuring public involvement in it. To do it, representations from NGOs and
professional associations will be included in the Board of Directors of the
funds.”
