Asian Development Bank and Mongolia: Fact Sheet
Asian Development Bank | April 2012
Updated yearly, this ADB Fact Sheet provides social and economic indicators on Mongolia as well as concise information on ADB's operations in the country and contact information. For 2 decades the Asian Development Bank (ADB) has been Mongolia’s largest source of official development assistance, playing a key role in the country’s impressive transformation to a market-based economy. When Mongolia joined ADB in 1991, it was on the brink of economic collapse. Financial support from the former Soviet Union had ended, the economy was in crisis, and Mongolians faced uncertainty. As Mongolia navigated a difficult path toward growth, ADB helped rebuild and reorient the country’s human, physical, and institutional infrastructure. Mongolia has now become one of the fastest growing countries in the world and finds itself on the threshold of prosperity. Thanks to vast mineral resources including copper, gold, and coal, the economy grew 17.3% in 2011 and is expected to maintain a fast pace in the years ahead, although vulnerabilities remain. Mongolia was reclassified as a Group B borrower in August 2011, making it eligible for funding from ADB’s ordinary capital resources, while maintaining access to concessional financing from the Asian Development Fund (ADF).
CitationAsian Development Bank. 2012. Asian Development Bank and Mongolia: Fact Sheet. © Asian Development Bank. http://hdl.handle.net/11540/5591.
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