International Organizations in Mongolia

May 14, 2007 at 1:08 am Leave a comment

Access to concessional external resources is essential for economic recovery and sustained growth in Mongolia. With a large fiscal deficit and the need to build up adequate foreign exchange reserves, substantial net capital inflows are required. While foreign direct investment (FDI) will meet some of these needs, the amount of FDI is expected to be modest and concentrated in a few sectors (e.g., minerals).

The IMF, ADB and the World Bank have worked closely together to support the Government’s macroeconomic stabilization and reform program since 1991. Concessional assistance from the donor community will continue to be critical. At the Assistance Group Meeting in June 1999, about $320 million in external assistance was pledged for the next 18 months (July 1999 – December 2000) with Japan (US$115 million), ADB ($76 million) and the World Bank ($52 million) as the three largest donors.

ADB has taken a lead role in several key sectors (education, health, finance, roads, telecommunications, power, air navigation, and housing) and has provided assistance to strengthen the Government’s capability to prioritize and coordinate projects proposed for external assistance.

The World Bank has provided assistance to the transport, coal and mining sectors, poverty alleviation, privatization, and state-owned enterprise reform.

Japan, the largest bilateral donor, has financed critical imports and provided assistance for the rehabilitation of the power plants, railways, urban transportation, and water supply sectors and has provided assistance for health equipment, human development, and environmental issues. /JICA/.

The UNDP and other UN agencies are playing an important role in the areas of health and population, poverty alleviation, and human development and management capacities. UNDP is also active in facilitating local donor coordination.

Representatives of Multilateral and Bilateral Institutions in Mongolia

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Entry filed under: International Organizations in Mongolia.

MNCCI Foreign Trade

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Information contained in this web site are partly derived from a CD-ROM "Guide to Investment and Trade-Mongolia", produced by Foreign Investment and Foreign Trade Agency (FIFTA). All trademarks are properties of their own respective owners.

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