I hope they get to build it. I hope that they put the statue at street-level, and he will be riding a foaming-at-the-mouth galloping war horse, drawing a bow with the arrow angled such that it scares the shit out of people as they walk around the corner, because that would be awesome. Sadly, it is hoped that the statue will help remind people that the whole conquest of the known world shtick wasn't the only thing noteworthy about Genghis Khan. After all, Alexander the Great did the same thing.
Really, I suppose it is a little surprising that embassies everywhere don't have a little shrine to Genghis Khan. As the inventor of diplomatic immunity, he saves them millions of dollars on parking tickets every year.