AKIPRESS.COM - Executive Director of Asian Development Bank (ADB) Koichi Hasegawa met with Deputy Prime Minister of Mongolia Ukhnaa Khurelsukh to exchange views on a new mid-term program for the development of the strategic partnership between Japan and Mongolia, reports The UB Post.

The Deputy Prime Minister noted that ADB has provided Mongolia with US$1.6 billion in support for over 270 projects over the past 25 years. ADB assistance has helped implement projects in education, health, community, finance, infrastructure, and urban planning, in the form of credit, non-refundable aid, and technical support.

He cited the most recent example of ADB’s support, the provision of $150 million for overcoming economic challenges and addressing the state’s budget deficit.

Since 1990, Japan and ADB have worked together to implement 33 projects in Mongolia, at a cost of over $60 million, to reduce poverty and to promote innovation and technology.

Five new projects in Mongolia are now being prepared for implementation. At the end of their meeting, Khurelsukh thanked Japan and ADB for their steady support and contributions to Mongolia.