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Mongolia plans to launch $16 billion investment program
Central Asia | business | 14:10, 21 May 2018 | 526

AKIPRESS.COM - Mongolia is preparing to invite proposals for public-private partnerships that would make a combined 38.3 trillion tugrik ($15.95 billion) in investments to support sustainable development, a government official told Reuters on Monday.

At present, Mongolia is recovering from an economic crisis rooted in a collapse in foreign investment and commodity prices, which forced it to turn to the International Monetary Fund (IMF) last year to help repay debts.

The government said that thanks to strong demand for commodities, Mongolia’s economy grew an annual 6.1 percent in 2018’s first quarter, compared with 5.1 percent last year and 1 percent in 2016.

But the landlocked nation remains desperate for funds to build the infrastructure to bring its huge copper and coal reserves to market.

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