Ulaanbaatar/MONTSAME/ On September 2, the Government of Mongolia and the Asian Development Bank (ADB) signed loan agreements totaling $103 million for projects that will upgrade border crossing points, complete a district demonstration hospital, and scale up road rehabilitation efforts in the country.

The agreements were signed by the Minister of Finance Mr. Khurelbaatar Chimed and ADB Country Director for Mongolia Ms. Yolanda Fernandez Lommen at a ceremony in Ulaanbaatar. Representatives from the ministries of finance, health, as well as road and transport development witnessed the event.

“As a landlocked country, a large share of Mongolia’s gross domestic product is linked to foreign trade. Improving the efficiency of trade processes and enhancing physical connectivity is essential to facilitate trade and transport in Mongolia,” said Ms. Fernandez Lommen. “Improving people’s access to social services has always been a priority in ADB’s operations in the country. Strengthening hospital services is key to improve the health of the Mongolian population.”

The newly approved additional financing, worth $27 million, for the ongoing Regional Improvement of Border Services Project will further upgrade border crossing points in Bichigt, bordering the People’s Republic of China in the east; and Borshoo, which borders the Russian Federation in the west. The project will build on the development initiatives of the ongoing project, which is already upgrading facilities and equipment of the crossing points in Altanbulag and Sukhbaatar, located in the northern part of Mongolia.

The $60 million additional financing for the Regional Road Development and Maintenance Project will rehabilitate the 118-kilometer (km) Darkhan–Altanbulag and 58-km Khuiten Valley–Arvaikheer road sections, while further enhancing the condition of the 204-km Ulaanbaatar–Darkhan road section. Road safety in the project areas will also be improved, which includes the construction of an additional overtaking lane as well as the installation of road markings, barriers, and guideposts. The project will also conduct assessments for the proposed new road to the planned Chinggis Khaan Tourism Complex.

The $16 million additional financing for the ongoing Fourth Health Sector Development Project will help the government complete the establishment of Songinokhairkhan district hospital. The multifunctional district hospital will provide quality services to the local population and serve as a demonstration hospital for other districts in the city. The construction of the Songinokhairkhan district hospital is expected to be completed in December this year.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.

Source: ADB

Published Date:2019-10-03