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President Kuroda Visits Mongolia
4 July 2006

ADB President Haruhiko Kuroda concluded his first official visit to Mongolia, meeting with Mongolia's President Natsagiyn Bagabandi (pictured, right). Mr. Kuroda also met with ambassadors and representatives of the donor community and stressed the importance of further donor coordination in addressing Mongolia's changing development needs.

Mr. Kuroda and Mongolia's Finance Minister Nadmidiin Bayartsaikhan signed a loan agreement for a financial sector reform and governance program, through which ADB will help the Government develop a sound and broad-based financial sector. The program is expected to lay the foundation for robust private sector development as it will help reduce the cost of borrowing and expand access to credit.

Read the news release.