Development Effective Brief: Mongolia: Supporting an Emergent Middle-Income Economy

Abstract

The Asian Development Bank (ADB) is celebrating 25 years of successful partnership with Mongolia in 2016. ADB’s assistance has played an important role in transforming Mongolia into a middle-income economy, and ADB’s country strategy for Mongolia has evolved over the years to match the changing needs of the country. Assistance has been provided to help deepen market-oriented reforms, stabilize and broaden financial markets, establish or rehabilitate key infrastructure, develop agribusiness, improve services in secondary towns and cities, and restructure social services including education and health. ADB is now Mongolia’s largest multilateral development partner, with cumulative assistance of $2 billion in grants and loans. The total approved projects in 2015 alone amounted to $275 million, and ADB has an active portfolio of projects totaling $1 billion.