Mongolia, ADB sign Financial Framework Agreement

2022-08-29 13:17:05

Ulaanbaatar/MONTSAME/. Finance Minister of Mongolia and ADB Country Director for Mongolia Pavit Ramachandran signed the USD100 million Countercyclical Support Facility loan agreement on August 26 in Ulaanbaatar.

ADB’s emergency financing will support Mongolia to mitigate adverse impacts of exogenous shocks, which disproportionately affect the poor, vulnerable groups, and women and girls.

At the same ceremony, the two parties also signed the Financial Framework Agreement, comprising pipeline projects for 2022-2023 amounting to USD655 million.

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