Government of Germany to Provide EUR 78 Million FundingEconomy
Ulaanbaatar, September 29, 2023 /MONTSAME/. Intergovernmental negotiations on development cooperation between Mongolia and the Federal Republic of Germany were held yesterday in Ulaanbaatar.
Since Mongolia's transition to democracy and market economy in the 1990s, Germany has been consistently supporting Mongolia's social and economic development. In the past period, the Federal Republic of Germany has provided more than EUR 500 million in soft loans and grant aid. The main goal of Germany's bilateral development cooperation is to support Mongolia's reform process aimed at creating an inclusive society, alleviating poverty, and ensuring sustainable economic development in accordance with the United Nations Sustainable Development Program.
Continuing bilateral development cooperation, the Government of the Federal Republic of Germany agreed to provide the Government of Mongolia with the highest amount of EUR 78 million in the history of bilateral cooperation. Within the framework of the above financing, loans of up to EUR 29 million will be channeled into national program financing through the Global Fund to Fight AIDS, Tuberculosis and Malaria to spend in the health sector.
Technical and financial cooperation projects will be implemented firstly in sustainable economic development and education, and employment, secondly in the climate and energy sector, and thirdly in biodiversity and nature conservation. Within the framework of bilateral cooperation, efforts will be focused on cross-sectoral issues such as fighting corruption and ensuring gender equality, and comprehensive measures for sustainable development.
The representatives of the Government of Mongolia were led by the Secretary of State of the Ministry of Economy and Development of Mongolia I. Batkhuu, whilst the representatives of the Government of the Federal Republic of Germany were led by the Head of the Division of East and Central Asian Region of the Federal Ministry for Economic Cooperation and Development Yannis Neophytou.