KhanLex issues recommendations to improve Mongolia’s legislation for NPL resolution

KhanLex has published a report – “Mongolia: Strengthening the Legal Framework for Non-Performing Loans Resolution and Debt Restructuring – Gaps in Mongolian laws”.

The report was commissioned by EBRD’s Legal Transition team and contains in-depth review of key existing laws governing resolution of non-performing loans in Mongolia. The report identifies gaps and recommendations for necessary amendments for the successful resolution of non-performing loans in Mongolia. The report was prepared with close coordination and cooperation with EBRD’s Legal Transition Team.

EBRD is expected to share the findings of the report with the Mongolian policy-makers such as the Central Bank of Mongolia, Ministry of Justice and Home Affairs, Ministry of Finance etc. It is hoped that the report’s findings and recommendations will assist with the efforts to both resolve growing number of NPLs in Mongolia (as part of the IMF’s Extented Fund Facility program) and reduce cost of lending.

The KhanLex team who worked on this transaction consisted of Enkhbat Batsukh, partner and Khulan Bayarsaikhan.

Please click here to read the report.

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