Mongolia and ADB
In the Spotlight
Mongolia is reforming its higher education sector, improving the quality and relevance of the courses on offer in its Universities, which is driving up graduate employment rate.
Rapid growth in mining and cross-border trade is putting a strain on existing infrastructure in Mongolia's South Gobi region, an area famous for its wild nature, nomadic culture, and rich mineral deposits. The Government with support from ADB is now working to improve urban infrastructure and services.
Mongolia’s economic growth is expected to remain solid in the next two years, albeit with a slight moderation from 2018, thanks to strong domestic demand, stable services and manufacturing, as well as a recovery in agriculture performance, says a new ADB report.
ADB and the Leading Asia’s Private Infrastructure Fund (LEAP) signed an $18.7 million loan with Sermsang Power Corporation Public Company Limited (SSP) and Tenuun Gerel Construction LLC (TGC) to build, operate, and maintain a 15-megawatt solar power plant supplying electricity to Mongolia’s central grid system.
Mongolia urgently needs to restore macroeconomic stability to ensure social stability, and to develop in the longer term a more resilient and diversified economy that can consistently deliver rapid, inclusive, and sustainable growth.
ADB assistance in Mongolia addresses key development challenges by supporting investments, policy reforms, capacity building, and knowledge sharing to sustain inclusive growth in a period of economic difficulty.
Mongolia is a member of the Central Asia Regional Economic Cooperation (CAREC) Program.
Projects in Mongolia
- Ulaanbaatar Community Food Waste Recycling Project
- Partnership with the Private Sector for Sustainable Trade Facilitation Results in the Central Asia Regional Economic Cooperation Program
- Developing Cross-Border Economic Zone
- Strengthening Electricity and Heat Supply Network in Ulaanbaatar
- Value-Added Cashmere Production and Export Project
- Preparing the Climate-Resilient and Sustainable Livestock Development Project
- Sustainable Tourism Development in the Central Asia Regional Economic Cooperation Region
- Fourth Health Sector Development Project - Additional Financing
- Central Asia Regional Economic Cooperation: Knowledge Sharing and Services in Transport and Transport Facilitation (Phase 2)
- Unleashing the Private Sector to Drive Inclusive Growth in Eastern Mongolia