Mongolia and ADB
In the Spotlight
A new road is now bringing economic growth and social development to a remote part of Mongolia.
ADB Board of Directors has approved $20 million in additional loan financing to expand the scope of an ongoing wastewater treatment project to an extra five fast-growing aimag (province) centers of Mongolia.
ADB's urban development project aims to cut poverty by 30% in Mongolia’s capital city. To kick-start that process, the first tranche of financing for the project, has started works to upgrade existing sub-centers—administrative and commercial hubs located within the ger areas.
In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2018, ADB is revising its growth outlook for Mongolia to reach 6.4% in 2018 and 6.1% in 2019, exceeding its April estimates of 3.8% growth this year and 4.3% next year. This upward revision is based on better performance of coal exports and stronger than expected private consumption.
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
- Railway Sector Development in Central Asia Regional Economic Cooperation Countries
- Asian Development Outlook 2019–2021
- Demonstrating Future Thinking and Foresight in Developing Member Countries
- Combating Domestic Violence Against Women and Children
- Promoting Investments and Economic Growth in Central and West Asia, East Asia, and South Asia Subregions