Financing for Development, WBG

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Financing for Development
By Purev Narantsetseg
Financing is discipline, art and science of managing money, means as providing money.
Development is the creating life guarantee necessary for solving problem to-everyone. MDGs and SDGs
are focused to eradicating poverty and inequility, improving life and creating life guarantee. I try to solve
problem to have sufficient permanent income to acccomplish my private goal. But I undertood that I
have not space to live and work in Mongolia.
Main role of government is to create and implement right, “smart” policy, law and regulatory
environment for development and financing development. The creating favorable labor employment
policy, law and regulatory environment is important for eradiction of poverty and improving life quality
life. But discrimination specifics by ages, income, living rating and social status are reflected in
regulations to implement this law in Mongolia. In another case, according to Competitiveness key
indicators, most problematic factor for doing business in Mongolia is inadequately educated workforce.
Mongolia has scored on 4.5 according to labor market efficiency and has ranked on 42 of World 144
countries according with Global competitiveness index in 2014-2015. Labor market efficiency of
Mongolia scored on 4.7 and ranked on 31 among 142 World countries in 2010. This competitiveness
indicator felt in 2015 comparing to 2010.
Pension fund is one of institutional investors for financing development. The right and smart
social insurance, care and protection policy, law and regulatory environment are important for creating
life guarantee. Fees such as pensions, disability fee and state grant for woman with many children
create stable income for most families in Mongolia. But social care/protection fees are not income from
active, productive works and are not possible to provide long-term guarantee for qualitative life and
long-term stable income for better life. So active labor employment and sufficient income is important
for improving quality of life. Mongolia ranked on 4.8 on competitiveness indicator as pay and
productivity and ranked on 14th
from World 144 countries in 2014-2015. Pay and productivity indicator
valued by 4.5 and Mongolia ranked on 30th
among 142 countries in 2010. But this competitiveness
indicator improved 0.3 in 2014.
I paid personal income tax from my sold books and works and pay commission to bookstores.
But tax policy of Mongolia was not benefit to me. So I do not expect any “smart” and “best” things from
government organizations. More importantly, I have the interest to work in technical assistance and
capacity building projects, which implement by international organizations in Mongolian government
organizations. This is government participation in my plan.
ODAs have concessional characters and contribute to decide development financing gaps. Net
ODA as a % of GNI felt by 0.77% in 2013 comparing to 2012. Total net ODA disbursements per capita felt
by 5.2% in 2013 comparing to 2012. Top 3 Donors of net ODA disbursement are Japan(30.4%),
US(25.8%) and Germany (12%). See detail research from web:
http://www.slideshare.net/PurevNarantsetseg/by-narantsetseg-purev-beneficiary-view-2

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Official aid providers have important roles to work at international projects and accomplish my
private goal and plan. Roles of Multilateral and bilateral donors are to help developing countries to grow
economies; to promote DRM more transparent, taxpayer-friendly business environments by providing
technical assistance, capacity building, and commodities in tax and customs policy and administration
and to help by bringing global experience. See WBG assiatnce in UB infrastructure development,
Mongolia:
http://www.slideshare.net/PurevNarantsetseg/mongolia-ulaanbaatarcreditworthinessimpactstory
So participation of official aid providers is to implement TA and capacity building projects and is to
finance necessary projects and programs for creating job opportunities to accomplish my private goal. It
mean that officail aid provider have role as financier in my plan.
Participation of private sector is related to clients role. Best knowledge is essential to expanding
private sector, their growth and efficient use of resources. Private sectors are strengthening as results of
project financing, which is one of private sector sources for development financing. The financing
advising and management consulting, best training and case study for clients are a base of project
financing and financing development, growth and expanding effective business. So I have plan to
accomplish my private goal through conducting training, advising and management consulting and case
study to clients growth.
Main obstacles for solving problem are next:
-Lack of Financing to implement projects in order to accomplish private goal and plan.
-Lack of financing to establish reliable, stable work with private sectors and client and to work in project
implementing in private sector.
-Lack of financing to work in government organizations and technical assistance and capacity building
projects.
Multilateral financial institutions have important roles to eradicate poverty and inequality,
catalyze public and private development finance, to provide technical assistance, learning opportunities
and policy advice to clients. So the working in international development projects are important for me
to work in contract, short and long-term works in Mongolia and other most-developed countries.