Minister of Finance Ch. Khurelbaatar ordered a transfer of all foreign loan financing and grants to the state. The ministry stated that the move will prevent the misappropriation of interest earned from money held in commercial bank accounts.
The finance minister assigned the Development Financing Department and Treasury Department of the Ministry of Finance with management of the state fund. The ministry has instructed governmental agencies to close down current accounts for foreign projects at commercial banks and to transfer all funds to the state by December 15.
Minister of Finance Ch. Khurelbaatar ordered a transfer of all foreign loan financing and grants to the state. The ministry stated that the move will prevent the misappropriation of interest earned from money held in commercial bank accounts.
The finance minister assigned the Development Financing Department and Treasury Department of the Ministry of Finance with management of the state fund. The ministry has instructed governmental agencies to close down current accounts for foreign projects at commercial banks and to transfer all funds to the state by December 15.