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AKIPRESS.COM - The Asian Development Bank’s (ADB) Country Director in Mongolia, Yolanda Fernandez Lommen, last week paid a courtesy call to the President of Mongolia, Battulga Khaltmaa, to discuss ADB’s partnership with the country and planned operations, ADB said on Thursday.
Ms. Fernandez Lommen extended her congratulations to the President on his appointment and presented him with a copy of the recently published ADB 50th anniversary history book, Banking on the Future of Asia and the Pacific: 50 Years of the Asian Development Bank.
She introduced ADB’s new Country Partnership Strategy, 2017-2020, for Mongolia that will guide ADB’s future investments, policy reform support, capacity building, and knowledge sharing in the country. Support will focus on three core pillars of activity. The first pillar is economic and social stability, a major part of which is to support macroeconomic stability while maintaining progress on social development. The second pillar is infrastructure for economic diversification, and the third pillar is strengthening environmental sustainability.
“Our jointly planned operations will foster economic diversification, job creation, and increase the efficiency and delivery of social services,” Ms. Fernandez Lommen said. “To that end, support will be provided to projects that support small- and medium-sized enterprises, in particular, agribusiness; infrastructure that promotes connectivity to facilitate access of Mongolia’s exports to external markets; urban development; and the construction of new schools and modern hospitals, among others. ADB and the Government of Mongolia will also pioneer a project to provide persons with disabilities with skills to integrate themselves in the labor market.”
Recalling his cooperation with ADB as a former Minister of Road and Transport, President Battulga emphasized the improvement of access to remote provinces from the capital city achieved with the assistance of ADB support to road sector projects. Noting that ADB’s continuous assistance is helping Mongolia sustain inclusive growth in a period of economic difficulty, the President expressed his appreciation for ADB’s 26-year engagement in the country.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.