Prime Minister meets President of European Bank for Reconstruction and Development

2019-11-14 18:01:18

Ulaanbaatar /MONTSAME/. On November 14, Prime Minister of Mongolia U.Khurelsukh received delegates headed by Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD).

“The investment of EUR 1.7 billion put by the EBRD with a view to develop private sector in the last two decades has brought impetus in economic diversification process and economic growth of Mongolia” said PM U.Khurelsukh at the beginning of the meeting. He further expressed gratitude for the USD 300 million General Financing Agreement established between the Government of Mongolia and the EBRD for several government projects, such as construction of two-lane paved auto road from Ulaanbaatar to Darkhan, projects for energy and green apartments and improvement of disaster resilience. 


Sir Suma Chakrabarti remarked that the EBRD attaches great significance to its relations and cooperation with Central Asian countries, especially Mongolia and that there are ample opportunities of active cooperation between Mongolia and the EBRD towards enhancement of public utility services in Ulaanbaatar city and other settlement areas, development of renewable energy, auto, railway and small and mid-sized manufactures and increase of employment. Then, he pledges to broaden the bilateral cooperation with Mongolia and keep on with the investment and financing to the country. 

“As Mongolia has set a goal to supply its own domestic oil, energy and food demands and to develop mining, manufacturing sector, agriculture, tourism, infrastructure and air transportation, Mongolia is eager to maintain close partnership with the EBRD’ said the Mongolian Premier at the end of the meeting.