ADB to provide Mongolia 740 mln USD to help economy
ULAN BATOR, April 17 (Xinhua) -- The Asian Development Bank will provide Mongolia with 740 million U.S. dollars to help its economy and narrow the country's inequality gap over the next five years, officials said Tuesday.
Robert Wihtol, director general of the ADB's East Asia Department, said in a statement that the Mongolian government has agreed on the five-year country partnership strategy.
Under the deal, the ADB will help Mongolia address problems in infrastructure, regional economic integration and access to basic urban services including water supplies, education and health.
In addition, the ADB will also support skills development through higher education improvements and vocational training and help sustain health reforms.
The ADB will also work to narrow major gaps among different populations and between urban and rural areas. An estimated 39 percent of Mongolia's population lived below the poverty line in 2010.
The ADB has been Mongolia's single largest source of official development assistance. Mongolia received loans worth 840 million dollars from the ADB between 1991 and 2011 to fund 47 projects.
Editor: yan
Robert Wihtol, director general of the ADB's East Asia Department, said in a statement that the Mongolian government has agreed on the five-year country partnership strategy.
Under the deal, the ADB will help Mongolia address problems in infrastructure, regional economic integration and access to basic urban services including water supplies, education and health.
In addition, the ADB will also support skills development through higher education improvements and vocational training and help sustain health reforms.
The ADB will also work to narrow major gaps among different populations and between urban and rural areas. An estimated 39 percent of Mongolia's population lived below the poverty line in 2010.
The ADB has been Mongolia's single largest source of official development assistance. Mongolia received loans worth 840 million dollars from the ADB between 1991 and 2011 to fund 47 projects.
Editor: yan
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