EBRD approves new country strategy for Mongolia

Oyundelger 2017-06-12 05:06

Economy

The EBRD Board of Directors has adopted a new country strategy for Mongolia which outlines the Bank’s investment priorities in the country for the next four years.

EBRD approves new country strategy for Mongolia. The EBRD Board of Directors has adopted a new country strategy for Mongolia which outlines the Bank’s investment priorities in the country for the next four years. The strategy builds on the Bank’s strong operational engagement in Mongolia and identifies as strategic priorities for the EBRD’s work in the country: Enhancing Mongolia’s resilience by strengthening the competitiveness of the non-extractive sector and easing access to finance. The Bank will support efforts to make the country’s wider economy more competitive and resilient. It will continue providing advice to small and medium-sized enterprises by financing projects that promote innovation, the transfer of skills, and improved corporate governance. Leveraging a well-governed mining sector to enhance sustainability and maximize value-creation. The mining sector requires further reform and investment to ensure sustainable and inclusive growth. The EBRD will continue to support responsible mining and will seek to deepen value-chain opportunities through upstream financing. Improving the quality and sustainability of infrastructure services through increased efficiency, commercialization and “green” solutions. Modernizing Mongolia’s infrastructure is crucial for the country’s sustainable development across all sectors. The EBRD will also look to enhance connectivity and regional integration through rail and road projects and support public-private partnerships in the energy sector. Irina Kravchenko, EBRD Head of Mongolia, said: “The new strategy is an important achievement in the history of our engagement in the country and sets out our strategic priorities for the next four years. The strategy was closely coordinated with the government and it will allow us to make a meaningful contribution towards building a more resilient, diversified and competitive economy through progress in reform, diversification and sustainability.” Since the start of its operations in Mongolia in 2006, the EBRD has invested over €1.4 billion in more than 80 projects in various sectors of the country's economy.