N.Manduul, CEO of Development Bank, made a report on issues related to the Development Bank.
He said, "30 percent of the Samurai bond repayments have been placed in account at the Bank of Mongolia. Repayment of debt at Chinggis Khaan Bank is under cooperation with law enforcement. However the private sectors have used the fund for its intended purpose, the project has been delayed due to force majeure. We have to prepare a half year report by June 30, and we are working to make the loan of MNT 400 billion repaid within this half year.
Gantig Villa town is sealed by law enforcement and the borrower has expressed a willingness to cooperate. The bank can make operation on collateral to repay the loan. The Bank's internal evaluation and research work are under process. According to preliminary estimates, there is no decision of taking the "Gatig Villa" as collateral has been made.
N.Manduul, CEO of Development Bank, made a report on issues related to the Development Bank.
He said, "30 percent of the Samurai bond repayments have been placed in account at the Bank of Mongolia. Repayment of debt at Chinggis Khaan Bank is under cooperation with law enforcement. However the private sectors have used the fund for its intended purpose, the project has been delayed due to force majeure. We have to prepare a half year report by June 30, and we are working to make the loan of MNT 400 billion repaid within this half year.
Gantig Villa town is sealed by law enforcement and the borrower has expressed a willingness to cooperate. The bank can make operation on collateral to repay the loan. The Bank's internal evaluation and research work are under process. According to preliminary estimates, there is no decision of taking the "Gatig Villa" as collateral has been made.