ULAN BATOR, June 22 (Xinhua) -- Mongolia has established a foundation to provide financial assistance to athletes who will participate in Olympics and other international competitions.
Mongolian Prime Minister Ukhnaa Khurelsukh declared the establishment of the foundation during an event dedicated to Olympic Day which falls on June 23 every year.
"The Mongolian government has been taking all necessary measures to support national athletes. The new foundation is completely dedicated to helping athletes with financial support they need," Khurelsukh said during the event.
The foundation called "Tokyo Olympics Foundation" will help athletes to solve their financial problems by organizing fundraising campaigns, according to the Prime Minister.
"I and Mongolian people hope that Mongolia will be more successful at the 2020 Tokyo Olympic Games than at the previous Olympics," he added.
Mongolia has set a goal to win at least six medals in the 2020 Tokyo Olympic Games to equal its Summer Games record.
Mongolia finished the 2012 London Olympics with a record-high five medals: two silvers and three bronzes.
