Memorandum established to issue capital city’s securities
- By Misheel Lkhasuren -
- Jun 23,2023
Clause 13.1 of the revision of the Law on the Legal Status of the Capital City states that “The capital may issue securities under the conditions and procedures specified in the law.” According to this, the working group was established last May by the order of the Governor of the Capital City. In accordance with the Law on Debt Management, the working group cooperated with the Ministry of Finance, received views from relevant organizations, and discussed and approved the procedure for issuing, trading and reporting capital city securities at the May 24 meeting of the Cabinet. At present, preparations are being made for the issue to be discussed by the Citizens’ Representative Khural, and the proposal will be submitted to the Ministry of Finance and the conclusion will be drawn up.
In this regard, Governor’s Office of the Capital City, “Eurasia Capital Holding UTsK” JSC and “Bluesky Securities UTsK” JSC will cooperate. Within the framework of the Memorandum, the sides will work together to support green development, green bonds, new technologies, attract investment, and provide consulting services for the establishment of investment funds. Moreover, in order to prevent the accumulation of waste and sludge near the Central Wastewater Treatment Plant, study on sludge processing will be carried out and necessary investments will be attracted. In addition, several goals were included, such as supporting the attraction of investments from green development funds for waste recycling projects in order to reduce soil pollution and ensure the safety of drinking water.