L.Oyun-Erdene: State might have disbursed 72 percents of funds purchasing 49 percents of Erdenet

Translator E.Oyun-Erdene GoGo.mn

2019-03-06 16:01 GMT+8

Head of the Cabinet Secretariat of Government L.Oyun-Erdene, and the Parliament members L.Bold and J.Batzandan reported press about funds chart of USD 400 270 000 which was used for purchasing 49% shares of Erdenet Mining Corporation.

L.Oyun-Erdene showed a chart that stated hypothesis 72.4% of the total fund is from State fund and 27.6% is from Trade Development Bank. 

Particularly, that time:

  • Bond debt from Bank of Mongolia was made and MNT 200 billion was received.
  • Loans of USD 71.3 and 51.3 million were received from Development Bank.
  • Loan of USD 90.3 million was received from the Ministry of Industry.
  • Unsecured loan of USD 111.2 million from Trade Development Bank.
  • MNT 160 billion was received from Bank of Mongolia supply.

He also stated that USD 70 million was transferred to the judge’s father’s company who made judicial decision for side of 49%. And he is going to call the judge to Independent Authority Against Corruption and Judicial General Council.

General Police Department and Independent Authority Against Corruption deferred the system case twice. And he declared to make negotiation after confirmation that the State granted one company the privilege or not.

The Parliament member J.Batzandan said “I have a protocol of the government meeting of that time. Those people made the chart how to buy the State corporation by the State fund. It is clearly written in the Government meeting protocol. Ch.Saikhanbileg and D.Erdenebat joined in the meeting which discussed about how to buy 49% of “Erdenet Uildver” LLC by State fund, or give it to Trade Development bank. S.Erdene said nothing during the meeting, and M.Enkhsaikhan asked about purchasing 49% and selling it. G.Bayarsaikhan asked about Mongolian government purchasing half of 49%.

Head of the Cabinet Secretariat of Government L.Oyun-Erdene stated that the case will be finalized within next 2 weeks and bond cases will be discussed after that. And he expressed his feelings about bonds that the State should apologize and move on if there is any company repressed.

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