Development Bank of Mongolia
State development bank
The state's development lender, built to fund large projects outside the annual budget. Its loan book became one of the biggest corruption stories of the decade.
PEOPLE
Khassuuri Gankhuyag
Prosecuted over the ₮33 billion loan · case dismissed at first instance, June 2023
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RECORD
The Vertex Mining Partner loan
In 2020 the bank lent ₮33 billion to Vertex Mining Partner, the Gankhuyag family company. In June 2023 the first instance court dismissed the case against Kh. Gankhuyag and the bank's former chief executive, holding the alleged unlawful influence unsubstantiated (UBN.mn).
A filled seal is documented. An open seal is an allegation, source named.
How to read this page. Every line names its source. A line marked ALLEGATION is a claim already published by the named source and already in the public record. Decode Mongolia republishes it as reported, with the source named, and has not verified it. An allegation is not a finding, and nothing on this page is proof of wrongdoing.