Ulaanbaatar
Ulaanbaatar Mayor Signs Memorandum of Understanding with UK Export Finance Agency to Boost Metro Project
Economy
Ulaanbaatar, July 9, 2025 /MONTSAME/. The Governor's Office of the Capital City of Ulaanbaatar and the Export Credits Guarantee Department, branded as UK Export Finance, the United Kingdom's export credit agency, have agreed to cooperate, signing a Memorandum of Understanding. Nyambaatar Khishgee, Governor of the Capital City and the Mayor of Ulaanbaatar and Emma Thomas, Co-Head of Global Business Origination for UK Export Finance signed the Memorandum of Understanding during the Mongolia Economic Forum 2025, on July 9, 2025.
Under this Memorandum, the UK side will support infrastructure development
projects in Mongolia, particularly in public transportation, including the Ulaanbaatar
Metro. The document outlines plans to supply UK goods and services to these
initiatives and accelerate financial arrangements for the metro project.
“The Ulaanbaatar Metro is not only a strategic
solution to urban traffic congestion, but also marks a new chapter in economic
cooperation between Mongolia and the United Kingdom,” said Mayor Nyambaatar.
“We have signed a contract with JP Morgan, and since April this year, the bank
has been evaluating the city’s financial records from the past three years.
Moving forward, we will conduct legal and regulatory assessments and actively
work with UKEF to secure international financing.”
The planned Ulaanbaatar Metro line will
stretch 19.4 kilometers from Tolgoit to Amgalan, featuring 15 stations and one
depot. The line is expected to transport up to 17,200 passengers per hour.
According to a revised feasibility study, the metro will reduce traffic
congestion by 10 percent and increase average travel speeds by 18 percent.
Commute times will also be significantly reduced—from 45 minutes by bus to just
15 minutes by metro. Additionally, the project is expected to stimulate small
and medium enterprises around the stations’ areas.
