Mongolia and ADB
In the Spotlight
ADB Board of Directors has approved a $40 million loan to develop a 41 megawatt (MW) distributed renewable energy system. It's a first-of-its-kind in Mongolia using a variety of renewable energy technologies to supply power and heating in the remote and less-developed western regions of the country.
The ADB Board of Directors has approved a $25 million loan to help the Government of Mongolia improve its tax administration and public investment management using information and communication technology (ICT).
The Country Operations Business Plan is consistent with the strategic priorities of the country partnership strategy (CPS), 2017–2020 of ADB for Mongolia. In line with the Government Action Plan, 2016–2020 and the midterm review of Strategy 2020, the overarching goal of the CPS is to help Mongolia sustain inclusive growth in a period of economic difficulty.
The ADB Office of Anticorruption and Integrity (OAI) advises the public to be aware of scams soliciting money fraudulently and claiming an affiliation with ADB. The bank is investigating complaints of individuals posing as ADB staff or using ADB office addresses to raise money in exchange for a loan or reward.
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
- Upscaling Renewable Energy Sector Project
- Strengthening Information and Communication Technology Systems for Efficient and Transparent Public Investment and Tax Administration Project
- Institutional Strengthening for Road Safety
- Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Sector Project
- Energy Storage Option for Accelerating Renewable Energy Penetration