Mongolia and ADB
In the Spotlight
ADB President Takehiko Nakao met with Mongolia’s Prime Minister Saikhanbileg Chimed to discuss ways ADB can support sustainable, inclusive growth in Mongolia, through job creation and diversification of the economy. He also met with Bolor Bayarbaatar, Minister of Finance and ADB Governor for Mongolia.
As a connecting link between Europe and East Asia, Central Asia is set to reap the benefits of burgeoning trade between the two economic giants.
ADB support has boosted school enrollment, trained teachers, and made Mongolia’s education system more responsive to the needs of business and industry.
ADB was one of the first international finance organizations to enter Mongolia when it embraced democracy in the early 1990s, and it is credited with being one of the pioneering development organizations that helped the country through this difficult transition.
Mongolia’s economic growth has eased from historic highs, driven largely by mining, to more sustainable levels. The economy requires diversification, with corresponding broadening of job opportunities and social protection, to generate inclusive growth. Protection of the environment - including grasslands, forests, rivers, and lakes - is also essential to ensure healthy and productive livelihoods.
ADB assistance in Mongolia works to raise the country’s standard of living by combining effective financing models with best practice knowledge products and services.
Projects in Mongolia
- Improving School Dormitory Environment for Primary Students in Western Region
- Supporting the Credit Guarantee System for Economic Diversification and Employment Project
- Fostering Value-added Activities in Western Mongolia
- Integrated Livelihoods Improvement and Sustainable Tourism at Khuvsgul Lake National Park Project
- Solar District Heating Supply in Rural Remote Areas Project