AKIPRESS.COM - The Asian Development Bank (ADB) and the Government of Mongolia today marked the 30th anniversary of the Mongolia–ADB partnership with a dialogue with project beneficiaries, executing agencies, representatives of the civil society, private sector, and other development partners at a high-level event. The event provided an opportunity for stakeholders to examine the partnership over the past 3 decades, acknowledge achievements, learn from experience, and discuss future partnership goals, ADB said.
“30 years is a very short time in history for major transformation, but the last three decades have witnessed quite extraordinary change in Mongolia. We’ve seen the creation of a thriving private sector, and an economy now based on market principles,” said ADB Vice-President Ahmed M. Saeed. “As we look to the future, ADB will remain steadfast in its commitment to support Mongolia’s drive to create a competitive, green, and sustainable economy which will benefit all of its members, while protecting its diverse and stunningly beautiful land and natural resources.”
More than 150 high-level representatives from parliament, government, the private sector, civil society, and youth participated and shared their insights on the country’s development progress. A TED Talk-style speech by the author of the book History of Mongolia, Batbayar Bat-Erdene (Baabar), and a keynote speech by Mongolia’s Minister of Finance and ADB Governor Javkhlan Bold highlighted key milestones in the country’s transition journey.
“Since Mongolia joined ADB in 1991, our partnership was vital in promoting development in many areas,” said Mr. Bold. “ADB has been a reliable and constant partner supporting our country through economic cycles, global financial and economic crisis, natural hazards, and challenges arising from the coronavirus disease pandemic.”
Green Climate Fund Director of External Affairs Oyun Sanjaasuren emphasized the importance of sustainable growth and green financing in her presentation on fostering sustainability.
Panel discussions continued the dialogue on aspects of economic and social progress, private sector and civil society participation in the past 30 years, and lessons from this path. Panelists of the private sector session emphasized the importance of financial products that meet business needs, capacity of the supply chain, and infrastructure networks in successful value-added production.
During the “Knowledge Sharing from the Field” session, various stakeholders involved in the implementation of ADB-funded projects shared lessons learned and provided recommendations that can be replicated in future projects. Beneficiaries of ADB-supported projects also shared their stories with the event participants.
At the event, ADB launched its new publication Moving Forward Together with stories highlighting achievements of selected projects financed by ADB. This publication aims to encourage discussion on how the country can continue to advance.
ADB has committed more than $3.6 billion in loans, grants, and technical assistance to the Government of Mongolia between 1991 and 2020. In addition to sovereign financing, ADB works directly with Mongolia's private sector, having provided loans to the energy, finance, and agri-industry enterprises, as well as trade financing through local partner banks under the Trade Finance Program.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.