Japan and ADB Helping Mongolia Harmonize Public Investment Planning
MANILA, PHILIPPINES - The Government of Japan and the Asian Development Bank (ADB) are supporting efforts to harmonize investment planning under the National Development Strategy of Mongolia. The project is estimated to cost $2.12 million, with the Japan Special Fund of the Government of Japan providing $1.5 million and ADB funding $300,000 of the total amount. Mongolia will cover the balance. The assistance will be implemented over 24 months starting in August 2007. The funding was in response to the request of the Government of Mongolia for ADB to assist in harmonizing results-based investment planning and public and social funds management. Since 2006, Mongolia has been formulating a National Development Strategy based on the millennium development goals, which were drawn up in 2000 by the United Nations Millennium Summit to reduce poverty and improve lives. The National Development Strategy will lay down major development objectives and implementation strategies over the next 15 years in a broad range of sectors and areas, including human development, environment and a public investment program. The Ministry of Finance is the lead agency in the formulation of the National Development Strategy, which calls for harmonized investment planning and well-organized and monitored implementation. The project is designed to ensure results-based and synchronized investment planning under the National Development Strategy and effective management of public and social funds by the Government of Mongolia. These objectives will be achieved through mainstreaming at the Ministry of Finance, and selected line ministries, the managing for development results approach in investment planning and monitoring. The project will also provide related advisory services and analytical support, and strengthen the institutional and personnel capacity of the ministries in preparing and managing investment projects and in handling public and social funds management. About ADB | 
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