Mongolia and ADB
In the Spotlight
The Key Indicators for Asia and the Pacific 2014 presents the latest available economic, financial, social, and environmental statistics for the 48 regional members of ADB. Download the statistical tables for Mongolia.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
Carbon financing helps Mongolia preserve its grassland resources and reduce greenhouse gas emissions from the country’s livestock population.
German development bank KfW will cofinance with ADB up to $2 billion over 3 years to promote development in Asia and the Pacific, particularly in Bangladesh, India, Indonesia, Mongolia, and Viet Nam.
ADB has been Mongolia’s largest source of multilateral official development assistance, playing a key role in the country’s impressive transformation from a planned economy to one of the fastest growing market economies in the world, and its emergence as a lower middle-income country.
Mongolia is fortunate to have rich mineral resources. However, development of the mining sector needs to accompany efforts for economic diversification and job creation, as well as social protection of the needy to ensure inclusiveness of growth. Significant investment is needed in business development and infrastructure, supporting job creation leading to better living standards.
2.89(2013) Population in millions
1.8%(2008-2013) Average annual population growth rate
27.4%(2012) Population living below the national poverty line