ADB President to Visit Mongolia
ULAANBAATAR, MONGOLIA - ADB President Haruhiko Kuroda is scheduled to arrive in Ulaanbaatar on Monday for two days of talks with senior government officials to further strengthen ADB’s long-standing relationship with Mongolia.
In his first official visit to Mongolia since assuming the presidency of ADB in February 2005, Mr. Kuroda is expected to discuss a wide range of issues including development challenges for Mongolia, the importance of regional cooperation, donor coordination, and ADB’s strategic priories in the coming years.
“President Kuroda’s visit provides an excellent opportunity to confirm ADB’s commitment to supporting Mongolia in its fight against poverty,” says Adrian Ruthenberg, ADB Country Director for Mongolia. One of the most pressing priorities for the country is to broaden and sustain growth to and provide opportunities for the many poor who have not yet benefited from the transition to a market economy.
During his visit, Mr. Kuroda is expected to sign a loan agreement for a financial sector reform and governance program.
Mongolia joined ADB in 1991 at the beginning of its transition to a market economy. Since then, ADB has approved 36 concessional loans to Mongolia totaling US$616 million and one private sector equity investment of $6.1 million. It has also provided technical assistance grants totaling $67 million.
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