Ulaanbaatar
83 percent of all funding issued to Mongolia allocated for private sector
Politics
Ulaanbaatar/MONTSAME/. On March 16, Resident
Representative of the European Bank for Reconstruction and Development in
Mongolia Hannes Takach paid a courtesy call on Speaker of the State Great
Khural G.Zandanshatar.
The EBRD has provided USD 2.2 billion in long-term direct
investment and loan financing for a total of 116 projects in Mongolia’s mining,
agriculture, manufacturing and banking sectors. Mr. G.Zandanshatar thanked the
EBRD for making a significant contribution to the Mongolian economy, in
particular the development of private sector.
Noting that corresponding projects in the fields of
infrastructure, energy, road and transportation will be co-implemented with the
Government of Mongolia and government organizations as reflected in the
strategy of the EBRD, Mr. Hannes Takach said,”83 percent of total funding
provided by the EBRD was allocated for the private sector,” adding that the objectives
to carry out the ‘New Revival Policy’, strengthen the
economic dependence are in line with the new strategic plan to be
implemented in Mongolia by the EBDR.
Speaker G. Zandanshatar, in turn, thanked the EBRD for the new
strategy as a main direction to improve the competitiveness of the
non-extractive sector of Mongolia. He also expressed support to work
with the EBRD to diversify the economy in line with the ‘New Revival Policy’, increase
the accessibility of financial support, develop accountable mining
and efficient, quality and sustainable infrastructure services that include green
solutions.
