Ulaanbaatar
Government wishes to upgrade ties with EBRD
PoliticsUlaanbaatar /MONTSAME/ The Prime Minister, Mr J.Erdenebat welcomed at his office the First Vice President of the European Bank for Reconstruction and Development (EBRD), Mr Philip Bennett on September 26.
This year is marking the 10th anniversary of the launch of EBRD operations in Mongolia. Over the past years, the EBRD allocated direct investments of over USD 1.4 billion in Mongolia. The Prime Minister expressed gratitude for the above investments and financial assistance for the Oyu Tolgoi Project and suggested upgrading the cooperation in the form of government loan.
Mr Bennett said the Bank has set up a research team in the margin of the cooperation with Mongolia, and has developed a list of potential infrastructure projects.
The package of loans from EBRD allowed to the Mongolian entities have reached 12 percent of the country’s GDP, which is the highest performance of EBRD among all members of the Bank.
The EBRD has realized 82 projects in mining, renewable energy, food industry, industrial manufacturing, cashmere, retail businesses, banking and finance, as well as many other fields in Mongolia.
