THE UNIT HOLDERS’ MEETING OF THE CAPITAL CITY DEVELOPMENT FUND WAS HELD

 

A meeting of the unit holders of the Capital City Development Fund was held to discuss making an investment in the financing of the Thermal Power Plant No. 5 project. The meeting was attended by T. Oyunchimeg, Chief of the Governor’s Office of the Capital City; L. Erdenebadrakh, Director of the Capital City Finance and Investment Department; B. Bayarmaa, Independent Member of the Board of Directors of UBIM; and G. Gangamurun, Chief Executive Officer.

At the meeting, the participants discussed and approved the following matters:

Placing the funds raised from the primary market issuance of the Capital City bond as an investment in the financing of the Thermal Power Plant No. 5 project;

Making the necessary amendments to the Fund’s charter in connection with the investment;

Increasing the size of the Fund’s unit holdings.

This decision is significant in that it is aimed at mobilizing, in stages, the financing source for the strategically important Thermal Power Plant No. 5 project, which is intended to meet Ulaanbaatar’s growing demand for electricity and heating, while supporting the project’s implementation through real investment.

UBIM. is working to develop the financing structure for the Thermal Power Plant No. 5 project and to provide professional support in organizing the project’s investment.