As per the Media release published on 31 March 2022 by The Hon Alex Hawke MP Minister for Immigration, Citizenship, Migrant Services and Multicultural Aff airs
A new Work and Holiday Maker (WHM) arrangement will allow up to 100 young Mongolians and 100 young Australians each year to enjoy a 12-month holiday in each others country, during which they may undertake short-term work and study.
Source: https://minister.homeaffairs.gov.au/AlexHawke/Pages/new-whm-arrangement-mongolia.aspx