WB and UB City to improve Municipal Capital Investment Planning and Public Transport Financing
MoU to jointly strengthen the capital investment planning process of Mongolia’s capital Ulaanbaatar and the financial sustainability of the city’s public transport sector was signed.
World Bank and Ulaanbaatar City are to partner to improve Municipal Capital Investment Planning and Public Transport Financing. A Memorandum of Understanding to jointly strengthen the capital investment planning process of Mongolia’s capital Ulaanbaatar and the financial sustainability of the city’s public transport sector, was signed by Ulaanbaatar city Vice Mayor Bayarkhuu and World Bank Country Manager for Mongolia James Anderson. The municipality also hopes that the partnership with the World Bank will help the city reduce expenditures and, through increased public engagement, improve transparency. The city’s various agencies agreed during a recent workshop to incorporate best practices on capital investment planning into the budget planning process and to take further steps to make the project prioritization more transparent in 2018. To improve financial strategy for the public transport sector, Ulaanbaatar city will carry out a comprehensive diagnostic assessment of the public transport sector and develop a medium term strategy for financial sustainability, based on analysis of alternative public transport plans. The assessment will improve the quality of public transport services, increase cost-efficiency, and reduce subsidies for public transport, currently increasing rapidly.
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