Mongolia Social Protection Sector Fact Sheet

Abstract

Due to persistent economic volatility, limited diversification, internal migration, and rapid urbanization, Mongolia currently faces rising inequality, expanding informal sector employment, and increasing vulnerability. This requires continuous focus on further improving the country’s social protection and welfare system. Asian Development Bank (ADB) has supported the social protection sector in Mongolia for the past 20 years and has helped to build its foundation. Through a mixture of programs, projects and technical assistance (TA) the bank also helped mitigate the adverse impacts of economic crises, ensure fiscal sustainability, develop welfare systems, and improve social protection services and service delivery. To date, ADB assistance to Mongolia’s social protection sector amounts to $238.19 million comprising five loans of $221.97 million, three grants for $12.94 million, and five TA projects for $3.28 million.