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ADB Vice-President Visits Mongolia

ULAANBAATAR, MONGOLIA (3 October 2003) - Asian Development Bank (ADB) Vice President Joseph Eichenberger arrived in Ulaanbaatar on Tuesday for a three day official visit. This follows on a visit by President Tadao Chino in 2001 to open ADB’s office in Mongolia.

Mr. Eichenberger met with senior government officials, including the Honorable N. Enkhbayar, Prime Minister of Mongolia, the Honorable S.Tumur-Ochir, Speaker of Parliament, the Honorable Ch. Ulaan, Minister for Finance and Economy and the Honorable O. Chuluunbat, Governor of the Bank of Mongolia. Discussions focused on the future direction of ADB assistance, as it begins to prepare a new long-term country strategy and program. Mr. Eichenberger noted that Mongolia had made a number of important reforms to accelerate the transition to a market economy while preserving important social services, and reaffirmed ADB’s commitment to assist with private sector development to create jobs and reduce persistent poverty.

Mr. Eichenberger also met with international and local business leaders to hear their views on the climate for investment and impediments to growth, and suggestions for future ADB assistance to encourage greater private sector development. A meeting with the heads of major donor agencies explored closer cooperation, and ways to streamline their procedures in the context of the Rome Declaration on Harmonization. The donors also discussed shared concerns that might be raised at the Consultative Group Meeting scheduled for this November in Tokyo.

Mr. Eichenberger took the opportunity to visit health, education and housing project sites in Zuunmod, the capitol of Tov Aimag (province). (See photos.) ADB is helping Mongolia to improve the quality and cost effectiveness of health and education services, and provide housing for low and middle income residents of ger areas.

Mongolia joined ADB in 1991. As of September 2003, ADB has provided about US$ 550 million in concessional financing for 32 projects and programs, and about US$ 50 million of grants for technical assistance.

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