On November 29, the Economic Standing Committee and the Legal Standing Committee of Parliament held a meeting to review the findings of the Cabinet working group tasked with investigating Development Bank of Mongolia (DBM).
There have been reports that the Democratic Party has proposed a postponement of the hearings. The head of the working group, Vice Minister of Justice B.Enkhbayar, answered questions about the hearing.
There are reports that the hearing will be postponed. What is the reason for the postponement?
I am the head of the Cabinet working group, I was told to present a report when summoned by Parliament.
The Democratic Party has been accused of trying to avoid discussions about which companies received loans from DBM and shifting focusing on smaller matters.
Our working group produced a 200 page report. There were violations concerning 1.3 trillion MNT, or 700 million USD. I don’t understand how this is a small issue. Is there a issue bigger than this one?
Is it unknown which companies received loans from DBM? There was speculation that more than 60 percent of the loans were given to companies owned by members of the Mongolian People’s Party (MPP).
In the last five to six years, there have been more than 2,000 companies that either directly received a loan from DBM or received a loan through a commercial bank. Sixty percent of that would mean that around 1,200 MPP members received loans. I am confused how they learned the identity of all 1,200 companies. I want to officially state that our working group is not focused on the political aspect of the investigation.