Pm Provides Updates on International Banking and Financial Organization Projects

During Parliament's session on Friday, Prime Minister J.Erdenebat held a briefing about cooperation between the Government of Mongolia and international banking and financial organizations.

The PM pointed out that Mongolia is collaborating with the International Monetary Fund (IMF) to implement its sixth program in Mongolia since 1991. Following the Government of Mongolia's enrollment in a three-year extended fund facility program from the IMF, analysts believe the World Bank, Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and other international banking and financial organizations, as well as individual foreign investors, are more likely to trust investing in Mongolia again.Prime Minister J.

Erdenebat noted that the Government of Mongolia has collaborated with World Bank Group organizations to implement 136 projects since 1991, valued at 837 million USD, that have to be carried out in Mongolian finance, agriculture, society, energy, mining, labor, and trade. The Prime Minister pointed out that the Government of Mongolia intends to take out a two-year soft loan of 160 million USD from the International Development Association of the World Bank in 2017.He added that the ADB has collaborated with Mongolia to implement over 260 projects and...