MEETING WITH THE PRESIDENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT
President of Mongolia Khaltmaagiin Battulga received Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD), today.
President Battulga expressed gratitude for the EBRD’s issuance of funds worth EUR 1.7 billion to Mongolia and support to the development of private sectors over the years and exchanged views on a wide range of matters concerning the formulation of the EBRD’s Mongolia Strategy until 2024 and the identification of priority directions in bilateral cooperation.
Mr. Chakrabarti spoke about the EBRD’s plan to implement one or two large-scale projects and programs every year and allocate EUR 200-250 million for the annual budget in Mongolia, saying that the funds were projected to be mainly spent on the development of urban public services, including road, energy, public transport, and sewage treatment plant. Mr. Chakrabarti also said that the directions of ongoing infrastructure development projects in Mongolia, particularly road and railway, were in conformity with the objectives and goals of the bank and expressed readiness to support projects in the areas of agriculture and tourism.
At the end of the meeting, President Battulga expressed his confidence that EBRD projects will contribute to the diversification of the Mongolian economy and wished Mr. Chakrabarti a successful tenure.