Second Economic Management Support Operation

Abstract*

The development objective of the Second Economic Management Support Development Policy Operation for Mongolia is to support the Government of Mongolia in restoring debt sustainability, strengthening the social protection system, and enhancing competitiveness. Poverty increased during the economic slowdown of 2014‐16, but declined only moderately during 2017-18, pointing at continued challenges in the labor market and the need for strong social support... Show More

Key Details

Project Details

Project ID
P167485
Status
Closed
Team Leader
Jean-Pascal Nganou
Borrower 2
Mongolia

Country
Mongolia
Disclosure Date
June 26, 2019
Approval Date
(as of board presentation)
July 30, 2019
Effective Date
December 24, 2019

Total Project Cost 1
US$ 0.00 million
Implementing Agency
MINISTRY OF FINANCE
Region
East Asia and Pacific
Fiscal Year 3
2020

Commitment Amount
US$ 100.00 million
Environmental Category
N/A
Last Update Date
May 1, 2023
Closing Date
July 23, 2020

Last Stage Reached
BANK APPROVED
Parent Projects
P162402

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy30%
- FY17 - Fiscal sustainability30%
FY17 - Trade10%
- FY17 - Trade Facilitation10%

FY17 - Private Sector Development

FY17 - Business Enabling Environment10%
- FY17 - Regulation and Competition Policy10%
FY17 - Jobs10%

FY17 - Public Sector Management

FY17 - Public Administration10%
- FY17 - Public Assets and Investment Management10%
FY17 - Public Finance Management30%
- FY17 - Domestic Revenue Administration10%
- FY17 - Public Expenditure Management20%

FY17 - Social Development and Protection

FY17 - Social Protection10%
- FY17 - Social Insurance and Pensions10%

FY17 - Urban and Rural Development

FY17 - Rural Development10%
- FY17 - Rural Infrastructure and service delivery10%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	20.00
IDA Credit	80.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	20.00
IDA Commitment	80.00
IBRD + IDA Commitment	100.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	N/A

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Apr 15, 2023	IDA-64710	Int Charges	481,886.47
Apr 15, 2023	IDA-64710	Int Charges	269,631.22
Oct 15, 2023	IDA-64710	Int Charges	9,669.28
Oct 15, 2023	IDA-64710	Int Charges	285,398.80
Oct 15, 2023	IDA-64710	Int Charges	285,398.80
Oct 15, 2023	IDA-64710	Int Charges	475,664.70
Oct 15, 2023	IBRD-90030	Int Charges	10,556.01
Oct 15, 2023	IBRD-90030	Int Charges	628,075.90
Apr 15, 2024	IDA-64710	Int Charges	478,006.88
Apr 15, 2024	IDA-64710	Int Charges	13,197.40
Apr 15, 2024	IDA-64710	Int Charges	13,197.40
Apr 15, 2024	IDA-64710	Int Charges	273,606.72
Apr 15, 2024	IDA-64710	Int Charges	273,606.72
Apr 15, 2024	IBRD-90030	Int Charges	680,653.06
Apr 15, 2024	IBRD-90030	Int Charges	6,937.05
Jul 30, 2019	IDA-64710	Loan Commitment	80,000,000.00
Jul 30, 2019	IBRD-90030	Loan Commitment	20,000,000.00
Jan 3, 2020	IDA-64710	Loan Disb	80,251,784.00
Dec 24, 2019	IBRD-90030	Fee Charges	50,000.00
Dec 24, 2019	IBRD-90030	Loan Disb	50,000.00
Jan 2, 2020	IBRD-90030	Loan Disb	19,950,000.00
Apr 15, 2020	IDA-64710	Int Charges	168,725.10
Apr 15, 2020	IDA-64710	Int Charges	168,725.10
Apr 15, 2020	IDA-64710	Int Charges	281,208.50
Apr 15, 2020	IBRD-90030	Int Charges	6,982.85
Apr 15, 2020	IBRD-90030	Int Charges	165,858.10
Oct 15, 2020	IBRD-90030	Int Charges	215,533.31
Oct 15, 2020	IDA-64710	Int Charges	296.31
Oct 15, 2020	IDA-64710	Int Charges	296.31
Oct 15, 2020	IDA-64710	Int Charges	307,238.62
Oct 15, 2020	IDA-64710	Int Charges	307,238.62
Oct 15, 2020	IDA-64710	Int Charges	511,489.16
Apr 15, 2021	IBRD-90030	Int Charges	116,277.78
Apr 15, 2021	IDA-64710	Int Charges	518,760.38
Apr 15, 2021	IDA-64710	Int Charges	311,256.22
Apr 15, 2021	IDA-64710	Int Charges	311,256.22
Apr 15, 2021	IDA-64710	Int Charges	1,081.96
Oct 15, 2021	IBRD-90030	Int Charges	116,916.67
Oct 15, 2021	IDA-64710	Int Charges	7,068.35
Oct 15, 2021	IDA-64710	Int Charges	7,068.35
Oct 15, 2021	IDA-64710	Int Charges	300,545.00
Apr 15, 2022	IBRD-90030	Int Charges	110,211.11
Apr 15, 2022	IDA-64710	Int Charges	292,783.30
Apr 15, 2022	IDA-64710	Int Charges	292,783.30
Apr 15, 2022	IDA-64710	Int Charges	496,174.00
Apr 15, 2022	IDA-64710	Int Charges	4,921.08
Apr 15, 2022	IDA-64710	Int Charges	4,921.08
Oct 15, 2022	IBRD-90030	Int Charges	295,502.38
Oct 15, 2022	IDA-64710	Int Charges	20,009.64
Oct 15, 2022	IDA-64710	Int Charges	20,009.64
Oct 15, 2022	IDA-64710	Int Charges	463,529.06
Oct 15, 2021	IDA-64710	Int Charges	300,545.00
Oct 15, 2021	IDA-64710	Int Charges	512,688.94
Oct 15, 2022	IDA-64710	Int Charges	258,107.80
Oct 15, 2022	IDA-64710	Int Charges	258,107.80
Apr 15, 2023	IBRD-90030	Int Charges	20,455.10
Apr 15, 2023	IBRD-90030	Int Charges	514,291.88
Apr 15, 2023	IDA-64710	Int Charges	25,500.09
Apr 15, 2023	IDA-64710	Int Charges	25,500.09
Apr 15, 2023	IDA-64710	Int Charges	269,631.22

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2022-12-07
Monitoring and Evaluation	Moderately Satisfactory	2022-12-07
Overall Implementation Progress (IP)	Moderately Satisfactory	2022-12-07
Program Management	Moderately Satisfactory	2022-12-07

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 04-28-2023
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 10-04-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Capital expenditure financed by the DBM through non-commercial loans Value 101220000.00 0.00 0.00
Date December 31, 2016 January 20, 2020 December 31, 2020
Comment
Number of permits and licenses to do business Value 890.00 454.00 801.00
Date December 31, 2016 July 1, 2020 December 31, 2020
Comment

Pension reform options simulation toolkit (PROST) model projections of the state subsidy to the pension fund used as basis for estimating baseline and projection with reforms	Value	State subsidy is projected to reach 6 percent of G	The Government of Mongolia abandoned some policies	State subsidy to pension fund projected to reach s
	Date	December 31, 2017	December 31, 2020	December 31, 2020
	Comment

Net financing from the BoM to the Housing Mortgage Program Value 162279600.00 106670783.80 0.00
Date December 31, 2016 December 31, 2020 December 31, 2020
Comment

The recapitalization of banks is advanced to meet prudential norm	Value	Six banks were identified to be in short of capita	The 2017-18 Asset Quality Review (AQR) revealed th	The banks are recapitalized to meet the Capital Ad
	Date	December 31, 2017	December 31, 2020	December 31, 2020
	Comment

Tax exemptions and incentives Value 14.50 10.70 13.00
Date December 31, 2016 December 31, 2020 December 31, 2020
Comment

Capital expenditure financed by the DBM through non-commercial loans	Value	101220000.00	0.00	0.00
	Date	December 31, 2016	January 20, 2020	December 31, 2020
	Comment

Number of permits and licenses to do business	Value	890.00	454.00	801.00
	Date	December 31, 2016	July 1, 2020	December 31, 2020
	Comment

Net financing from the BoM to the Housing Mortgage Program	Value	162279600.00	106670783.80	0.00
	Date	December 31, 2016	December 31, 2020	December 31, 2020
	Comment

Tax exemptions and incentives	Value	14.50	10.70	13.00
	Date	December 31, 2016	December 31, 2020	December 31, 2020
	Comment