4/13/2022
It is essential to implement large projects sustainably in the long run based on private sector participation and investment. Hence, government measures, policies, and private sector initiatives are critical in long-term partnerships.
The Law on Concessions was approved in 2010, and since then, the public, private sector, and participants have understood concessions as a public and private partnership. However, according to international concepts, standards, and regulations, a concession is only one type of public-private partnership agreement. In other countries, the public-private partnership is determined as the legal framework for implementing extensive infrastructure and public service projects financed by the private sector in the long term efficiently and sustainably with low risk.
In the framework of the "Strengthening Governance in Mongolia Project," jointly implemented by the World Bank and the Ministry of Finance, began to study the implementation of the Concession Law, its agreements, and their impact on the budget in 2019 and introduced it to the Cabinet meeting in 2021 based on the summary reports and recommendations. Following the government's decision, the Ministry of Finance began drafting the Law on Public-Private Partnerships in July 2021 in compliance with the Law on Legislations, developed the approved concept paper of the draft PPP law, and submitted it to Parliament. It is worth noting that the draft law was studied and followed following the "PPP Law" developed in 2019 by the United Nations Commission on International Legal Trade (UNCITRAL).
At the Cabinet meeting on June 24, 2021, a working group was established to analyze the Law on Concessions, draft the Law on Public-Private Partnerships, and instruct the Minister of Finance to submit the draft law to the Cabinet. Accordingly, the Minister of Finance issued Order No. 104 in 2021 to establish a working group to draft a law on Public-Private Partnerships and drafted the law following the requirements of the Law on Legislation.
Public-private partnerships are a relatively new concept in Mongolia; therefore, it requires an analysis of other countries' experiences, studies, and findings. It also draws from PPPs from the UNCITRAL PPP Model Law issued by the United Nations Commission on International Trade Law. Meetings were held virtually and in-person between consultants of the World Bank and the International Monetary Fund to discuss specific issues outlined in the draft law and exchange ideas on each article and provision.
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WORLD BANK WORKING GROUP MET WITH PIU AND IMPLEMENTING ORGANIZATIONS REGARDING THE COMPLETION REPORT OF THE STRENGTHENING GOVERNANCE IN MONGOLIA PROJECT
4/3/2023
Concerning the Strengthening Governance in Mongolia project, which was completed on February 28, 2023, the World Bank working group to develop the project completion report had an official meeting with Project Implementation Unit (PIU) and implementing organizations on March 30, 2023. The purpose of the working group meeting is to review the implementation of the project, the results achieved, and the fulfillment of the project indicators. |
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PERFORMANCE BASED FINANCING: INSPIRING NEW APPROACHES TO PUBLIC FINANCIAL MANAGEMENT IN HEALTH AND EDUCATION
3/23/2023
Performance based financing (PBF) links funds or payments to service providers to results achieved and gives them considerable autonomy in the use of these funds. The strategic approach is appealing to many individuals and organizations as it motivates them to perform better and channels resources directly to the frontlines. This in turn fosters greater accountability. Using this approach has been popular in different sectors with some promising results emerging. |
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AN INTEGRATED SYSTEM FOR RESULTS-BASED MEDIUM-TERM BUDGET PLANNING: IN ACHIEVING THE GOALS OF IMPROVING BUDGET PLANNING, BUDGET EFFICIENCY AND PROGRAM OUTCOME.
3/7/2023
Under the scope of improving public financial management, Mongolia is aiming to introduce result-oriented medium-term budgeting, transitioning from the traditional input-based budgeting. This goal is aligned with development policy of Mongolia to shift from medium-term fiscal framework (MTFF) to medium-term expenditure framework (MTEF). |
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The MOF is entering the new phase of PFM Reform Action Plan
2/28/2023
Within the framework of the European Union financed, World Bank managed “Strengthening Governance in Mongolia” project, the Ministry of Finance, in compliance with the “Sustainable Development Vision 2030” and the “Action Program of the Government of Mongolia for 2016-2020”, has approved and implemented the Public Financial Management (PFM) Reform Strategy and the Action Plan for 2018-2022. The overarching objective of the strategy was to improve governance and achieve effective resource allocation and efficient public service delivery. The implementation status of the PFM Action Plan is indicated as “Certain results have been achieved” at the rate of 85 percent. |
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LAUNCHED BETA VERSION OF THE REDEVELOPED GLASS ACCOUNT PORTAL
1/20/2023
The Ministry of Finance Mongolia has developed and successfully launched the new version of the Glass Account Portal in 2023 within the framework of the Strengthening Governance in Mongolia Project jointly implemented by the EU and the World bank. |
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New systems and services are added in the Intermediate service platform for fiscal and financial systems
1/11/2023
The Ministry of Finance Mongolia has developed and successfully launched the Intermediate Service Platform (ISP) in 2022 within the framework of the Strengthening Governance in Mongolia Project. The main purpose of the system is to provide a possibility of information /web services/ exchange between the independent systems of the Ministry of Finance and other organizations in a easy and flexible way. In addition, it is solving the issues of overlapping connections and development between many information systems and organizations, transferring them to a unified standard, making it has no complexity, and more secure. |
