IFC REP OFFERS COOPERATION IN ENERGY SECTOR

Ulaanbaatar /MONTSAME/ The Minister of Energy D.Zorigt received Friday the permanent representative of the International Financial Corporation (IFC) to Mongolia Tuyen D.Nguyen, at the latter’s request. The Minister introduced himself saying that has been in the office for six days and that he had worked as member of the Standing Committee on Economy for six years where he had gained much experience in energy matters. In response, Mr D.Nguyen mentioned that the IFC is a member organization of the World Bank and mainly focuses on private sector and said the IFC seeks an opportunity to invest in Mongolia in the areas of Wind Energy Development and Public and Private Partnership (PPP). The IFC is willing to discuss the roles it can play in the PPP in Mongolia, particularly in considering private entities' participation in electricity and heat production, he said. Their Corporation is interested in cooperating in the small projects that are of high importance for Mongolia, "given our rich practices, for instance, it is possible to collaborate in a privatization of the power transmission network", he went on. Mr Nguyen also said the IFC has sold 25 percent of Laos’ power network on the Stock Exchange, "this can be practiced in Mongolia as well". "If the privatization of the energy-producing entities meets the interests of Mongolia, our corporation can invest in and support the commercialization of the stocks. I hope that the issues of the Fifth Thermal Plant will be settled and forwarded soon," he added. He also expressed a readiness of the IFC to cooperate with Mongolia, although it does not have any direct involvement in these issues except for voicing when needed. Present at the meeting were a head of the Department of Finance and Investments of the Ministry of Energy S.Bayarbat, a head of the Department of Strategy and Policy Planning P.Tovuudorj, and a senior officer of the Division of Foreign Cooperation G.Enkhtuvshin.