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GOVERNMENT RESOLUTION

July 20. 2010

No. 195

Ulaanbaatar

Establishing Development Bank

Based on Law to Make Amendments to 2010 Budget of Mongolia, Provision No. 5 of


Article 9 of State and Local Property Law, Article 18.1 of Banking Law, and Article 2.1.31 of 20082012 Government Programs, the Government of Mongolia RESOLUTES:
1. Establish the Development Bank of Mongolia and approve its Chapter as attached.
(Amended by the Government Resolution No.151 dated May 11th, 2011)
2. Assign the National Development and Innovation Commission (Ch. Khashchuluun) and
the State Property Committee (D. Sugar) to take measures to start the operations of the Development
Bank within the 3rd quarter of 2010 in accordance with relevant rules and to have an international,
experienced, professional and independent management team as the executive management of the
bank based on a selection process. /Amended by the Government Resolution No.192 dated May
25th, 2013/
3. Assign the State Property Committee (D. Sugar) to immediately decide matters
concerning the provision of premises and equipment to the Development Bank to start its activities
and to appoint members of the Board of Directors in compliance with relevant rules.

Prime Minister of Mongolia

S. Batbold

Minister of Mongolia
Head, Cabinet Office of the Government
/stamped/

Ch. Khurelbaatar

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