Updates on international projects provided
Prime Minister J.Erdenebat held a briefing on cooperation of the Government with international banking and financial organizations.
Updates on international projects provided. Prime Minister J.Erdenebat held a briefing on cooperation of the Government with international banking and financial organizations. Mr. Prime Minister pointed out that following the Government’s enrollment in a three-year extended fund facility program from the IMF, international banking and financial organizations, as well as individual foreign investors, are more likely to trust investing in Mongolia again. The Government of Mongolia has been collaborating with World Bank Group organizations to implement hundreds of projects in the financial, agricultural, energy, mining, labor and trade sectors. Since 1991 the ADB has been implementing numerous projects and programs in the form of credit, non-refundable aid, and technical support. The Prime Minister noted that Mongolia is cooperating with the ADB to implement projects to diversify the national economy, and is focusing on environmentally sustainable growth by enhancing economic and social stability, and promoting the development of efficient infrastructure through to 2020. The EBRD is actively collaborating with Mongolia and has issued a long-term loan of over 1.4 billion USD, and that the World Bank Group’s International Finance Corporation and other foreign investors have invested over two billion USD in Oyu Tolgoi’s underground mine project.
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