Mongolia: Transformational Mobile Banking Services

Sovereign Project | 43569-012 Status: Closed


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Project Name Transformational Mobile Banking Services
Project Number 43569-012
Country Mongolia
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7479-MON: Transformational Mobile Banking Services
Technical Assistance Special Fund US$ 400,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance - Banking systems and nonbank financial institutions - Finance sector development

Gender Equity and Mainstreaming No gender elements
Project Rationale and Linkage to Country/Regional Strategy

Project Outcome

Description of Outcome
Progress Toward Outcome Regulatory diagnostic in draft final with road map to regulatory reforms. MOU between financial regulators, MOF and the telecom regulator expected to be signed before year end 2012.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

The draft mobile banking policy has been amended and the telecommunications regulator have apporved the final draft policy. Bank of Mongolia management has approved the policy.

The TA is close to completion. It is in the process of finalizing consultant payments and closing of contracts.

The holding of a final workshop with the EA to discuss results in Mongolia will still be discussed and consequently if there is a possbility of moivng ahead with KPS.

Geographical Location National

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Consultation with banks, telecommunications providers, and other market participants took place prior to TA signing.
During Project Implementation A stakeholder Advisory Group meets, engages fully in the process of policy and road map development and implementation, and has ongoing dialogue with the Working Group on Mobile Banking. They are also reading and reviewing the draft regulatory diagnostic and sharing comments.

Business Opportunities

Consulting Services Individual consultants will be recruited.

Responsible Staff

Responsible ADB Officer Seung Min Lee
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Bank of Mongolia (Central Bank)
Mr. L. Lkhagvasuren
Baga toiruu-9, Ulaanbaatar, Mongolia; Fax +976 11 311 471


Concept Clearance 15 Jun 2009
Fact Finding 18 Feb 2009 to 19 Feb 2009
Approval -
Last Review Mission -
PDS Creation Date 26 Jan 2010
Last PDS Update 19 Sep 2013

TA 7479-MON

Approval Signing Date Effectivity Date Closing
Original Revised Actual
18 Dec 2009 27 Jan 2010 27 Jan 2010 31 Jul 2011 31 Jul 2013 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
400,000.00 0.00 50,000.00 0.00 0.00 0.00 450,000.00 18 Dec 2009 282,863.35
Title Document Type Document Date
Transformational Mobile Banking Services TA Completion Reports Jul 2014
Transformational Mobile Banking Services Technical Assistance Reports Dec 2009

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

Title Document Type Document Date
Transformational Mobile Banking Services Technical Assistance Reports Dec 2009

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.

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