ADB to partner with the central bank in developing banking infrastructureEconomy
Ulaanbaatar /MONTSAME/. On October 16, Governor of the Bank of Mongolia B.Lkhagvasuren received ADB Country Director for Mongolia Pavit Ramachandran.
During the meeting, Mr. Pavit Ramachandran introduced the newly updated studies on the general outlook for the economy of Mongolia, while the bank governor gave information about future economic outlook and challenges, the core objectives for the program for the banking sector reform that will be implemented for the mid-term, and the necessary changes required in the legal environment.
The sides also discussed the completion of the International Monetary Fund’s Extended Fund Facility Arrangement in May 2020, the works done for the country to be removed from the FATF Grey List in 2020, and its assessment. At the end of the meeting, Mr. Pavit Ramachandran expressed readiness of the ADB to partner in strengthening the banking system and developing the banking infrastructure.