Mongolia and ADB
In the Spotlight
Economic growth in Mongolia will slow down in 2015, reflecting necessary fiscal and monetary tightening to contain inflationary and balance of payments pressures, says a new ADB report. Read more about the Mongolia economic forecast.
ADB has approved a concessional loan of $25 million to help Mongolia promote jobs through an overhaul of its technical and vocational education and training (TVET) system in three priority sectors - agriculture, construction, and road and transportation.
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.
Carbon financing helps Mongolia preserve its grassland resources and reduce greenhouse gas emissions from the country’s livestock population.
Mongolia is now better able to identify and assist the poorest people in the country.
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.