UNCCD COP17 in Mongolia: Saudi Arabia will hand over the COP presidency to Mongolia at COP17, as the summit opens in Ulaanbaatar on Aug. 17 with a focus on restoring degraded land and drought resilience. Desertification pressure: Mongolia’s updated national desertification atlas shows 81.9% of the country affected by desertification and land degradation, with climate change impacts and water scarcity worsening. Fuel crisis & austerity: Ahead of the summit, Mongolia’s government ordered austerity and suspended state spending, citing a fuel shortage that has left Ulaanbaatar drivers queuing for petrol. Monetary tightening: The Bank of Mongolia raised its benchmark interest rate to 12.5% to curb inflation driven by fuel and food costs, also lifting reserve requirements for banks. Transport & connectivity: Work is accelerating on the Bagakhangai–Khushig Valley–Emeelt railway, scheduled to open next month, while Mongolia and China continue boosting air links. Mongolia-China aviation milestone: COMAC’s C919 completed its first scheduled international commercial flight to Ulaanbaatar on Aug. 12, operated by Air China. Local preparations: 600 volunteers have been trained to support COP17 operations across the green and blue zones, hotels, and transport.