The Prime Minister of Mongolia, Zandanshatar Gombojav, received the Vice President of East Asia and the Pacific at the World Bank, Manuela V. Ferro, on September 2, 2025.
Prime Minister Zandanshatar expressed his gratitude to the World Bank for its valuable contribution to Mongolia’s social, economic, and infrastructure development over the past 34 years, since 1991. He acknowledged the Bank’s consistent partnership through the financing of numerous projects and programs. During the meeting, the Prime Minister also outlined the Government’s key policy priorities and strategic objectives. He emphasized that human development lies at the core of Mongolia’s policy agenda, alongside goals such as green transition, digital transformation, public sector productivity, and tax reform. He further highlighted the Government’s efforts to reduce the country’s dependence on the mining sector by diversifying the economy, including targeted support for the private sector and expanding the range of exportable products.
Vice President Manuela V. Ferro praised Mongolia’s swift economic recovery following the COVID-19 pandemic and noted the country’s progress in recent years in both social and economic development. She stressed the importance of diversifying the economy through the development of agriculture, particularly the wool and cashmere sectors, as well as the potential of renewable energy and tourism industries.
Prime Minister Zandanshatar underscored the urgent need to implement an affordable housing program and to establish a financing system that improves access to credit, as part of efforts to reduce air pollution in Ulaanbaatar and enhance citizens’ quality of life. In response to the Prime Minister’s proposed collaboration with the World Bank in this area, the World Bank expressed its readiness to continue working in partnership with Mongolia to support these development goals.

Published Date:2025-09-04