On the cabinet meeting held on March 30th of 2011, the proposal of 14.2 million USD worth capital market development project has been accepted. The initial financing will be borrowed from local commercial banks, while the borrowings will be paid back from government budget within 3 years. Implementation of this project will introduce clearing, settlement and depository system, bring international standards to legal environment, infrastructure, technology and human resource, and enable investors to connect high speed trading system of MSE. Additionally, the project will bring the opportunities of raising long term low cost financial resources, funds through local capital market. Mongolian economy will greatly benefit from trading shares of joint stock companies, which will be partnered with economically strategic countries. This will also advance market monitoring, guarantee economical security and significantly increase the numbers of financial products in the market; may extend the market to commodities, currency exchange and derivates. For more information, please visit: pmis.gov.mn