World Bank to provide 100 million USD for Mongolia’s budget deficit


World Bank (WB) Group Managing Director and Chief Operating Officer (COO) Sri Mulyani Indrawati promised to provide assistance of 100 million USD for the recovery of Mongolia’s budget deficit, during a meeting with Prime Minister Ch.Saikhanbileg, held on Wednesday.
Indrawati said that she believes that the Mongolian government will successfully overcome the current challenging economic condition, and expressed that the WB is ready to cooperate in every possible sector.
In response, the PM said that he appreciated the WB’s contribution for developing the nation’s economy, and expressed his hope that the WB will collaborate in overcoming the current economic crisis.
During the meeting, the sides discussed the best monetary policy in times of economic crisis and budget burdens. The WB representatives expressed their support for working on a budget and investment policy for 2016.
Industry Minister D.Erdenebat, Senior Advisor to the Prime Minister B.Delgermaa and other officials accompanied the PM.
In addition to this latest development, last week, Minister of Finance J.Erdenebat and Permanent Representative of World Bank to Mongolia James Anderson signed a loan agreement for 63 million USD.
The loan will be used for financing three government projects on improving the quality of education, digitalization of the healthcare system, and smart government.
The Finance Minister said, “Our country has been collaborating with World Bank for the past 25 years. We are happy that we are now cooperating in education, health, and smart government projects. I am sure that we will cooperate more in the future.”
A total of 27.4 million USD will be used for a project on advancing education, while 17.9 million USD will go towards a digital healthcare project, and 17.8 million USD for a smart government project.

Short URL: http://ubpost.mongolnews.mn/?p=15071

Posted by on Jun 25 2015. Filed under Онцлох мэдээлэл. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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