AKIPRESS.COM - The First Vice President of the European Bank for Reconstruction and Development (EBRD), Phil Bennett, will visit Mongolia to meet with the new government and the business community, as well as to mark the Bank’s 10th anniversary of investing in the country.
Bennett will be in Ulaanbaatar from 26-28 September, where he will discuss the Bank’s upcoming strategy for investing in the country, the Bank’s current work and the pipeline of potential projects.
Bennett, who is in charge of the EBRD’s banking operations, will meet the newly elected government to discuss the directions of future EBRD work in Mongolia. Since the start of its operations in 2006, the EBRD has invested €1.4 billion in the country, almost entirely in private sector development. The Bank is currently considering broadening its scope of investment to the municipal and transport infrastructure sectors.
“I am looking forward to new possibilities and partnerships as Mongolia is opening up again to investment and business,” said Bennett.
During his visit, Bennett is also expected to sign the EBRD’s second wind farm project in the country, Tsetsii. The wind farm will be co-financed by the Japan International Cooperation Agency (JICA) and built by a joint venture between Mongolia’s Newcom and Japan’s SoftBank.