The Asian Development Bank (ADB) and the Government of Mongolia have signed a $475 million Financial Framework Arrangement to strengthen their partnership in advancing inclusive and sustainable growth, according to ADB. Minister of Finance and ADB Governor Javkhlan Bold and ADB Country Director for Mongolia Shannon Cowlin signed the arrangement at a ceremony in Ulaanbaatar.
Shannon Cowlin says the framework will streamline project preparation and approval processes so the partnership can deliver timely and lasting benefits for the people of Mongolia.
“Through this arrangement, we will continue supporting projects in health, education, and skills development, as well as initiatives that strengthen disaster resilience,” she said.
The framework will support four projects that directly improve lives and strengthen long-term development. The proposed Provincial Health Service Strengthening and Modernization Project will upgrade hospitals and diagnostic centers in 17 aimags with climate-resilient, energy-efficient facilities and modern equipment. It will also support development of national health sector policies, improvements in hospital management, and better skills for health workers. The project will improve emergency medical and intensive care services, including cancer care, while building capacity to keep the national health insurance system sustainable.
Additional financing for the ongoing Sustaining Access to and Quality of Education During Economic Difficulties Project will support construction of about 40 new schools and kindergartens in Ulaanbaatar and aimags across the country. This will create more than 10,000 new school and kindergarten seats, helping ease overcrowding and the need for schools to run three daily shifts—where a single classroom is used by three separate classes from morning until evening.
The Developing Skilled Mongolian Workforce for Resilient Economic Growth Project will modernize technical and vocational education and training to better prepare youth for the future labor market. The Strengthening Mongolia’s Disaster Resilience Capacity Project will strengthen the country’s disaster response mechanism and equip the National Emergency Management Agency with modern vehicles and specialized tools for firefighting, disaster response, search and rescue, mitigation, and recovery.
