European Union to grant EUR50 million to Mongolia for budgetary policy reform

2018-11-14 11:58:30

Ulaanbaatar/MONTSAME/ On November 13, Foreign Affairs Minister D.Tsogtbaatar met EU Commissioner for International Cooperation and Development Neven Mimica, who is on a working visit to Mongolia.

At the outset of the meeting, Minister D.Tsogtbaatar emphasized that the European Union, ‘third neighbor’ of Mongolia, is reliable partner, which effectively supported Mongolia’s democracy and transition into market economy from the beginning. Mentioning fruitful outcomes of the Multi Indicative Program (MIP) being implemented by the EU for Mongolia, Mr. Tsogtbaatar noted an importance of expanding bilateral economic relations, in particular to augment investment of EU and its member states.

In turn, Mr. Mimica said that the EU is for stepping up its relations with Mongolia and informed that EUR50 million will be granted to Mongolia as a support for budgetary policy reform within the MIP.