军媒披露陆军某炮兵团2016年移防进驻安徽省广德县

Mongolia’s economic growth in 2024 remained robust, driven by strong mineral exports and sustained domestic demand. This offset a significant downturn in agriculture caused by a harsh winter that led to the loss of millions of livestock.

Mongolia was elevated to an upper-middle-income country based on its 2023 gross national income per capita of $4,870. However, despite gains in poverty reduction, challenges such as gender inequality, income inequalities, and climate vulnerability persist. Assistance from ADB in 2024 focused on essential social services, livelihood opportunities (especially for women), and sustainable infrastructure, alongside technical assistance and policy-based lending for economic diversification and climate action.

Sovereign operations. As of 31 December 2024, ADB has committed 390 public sector loans, grants, and technical assistance totaling $4.5 billion to Mongolia. ADB’s current sovereign portfolio in Mongolia includes 42 loans and 3 grants worth $1.7 billion.

ADB quickly responded to the dzud (severe winter conditions) emergency in the spring of 2024, disbursing a $2.8 million grant from the Asia Pacific Disaster Response Fund to support government relief efforts. This grant helped provide cash assistance, food supplies, fuel, medical kits, and rescue equipment to about 145,000 affected herder households.

ADB committed $82.2 million to enhance health care access for women and disadvantaged groups. This includes constructing a new hospital in Chingeltei district, upgrading the central hospital in Khovd aimag (province) with low-carbon technology, and establishing six gender-responsive family health centers in underserved ger (local dwellings) districts. The emergency medical equipment, health care financing reforms, integrated service models, and enhanced maternal and child health care services supported under this project will benefit some 171,000 people in Ulaanbaatar and 96,000 in rural areas. ADB is also providing technical assistance to help Mongolia implement its new public health law by providing policy recommendations and promoting workplace health.

ADB also committed $15 million in additional financing for an ongoing project aimed at enhancing access to and the quality of education in Mongolia. ADB project will help construct, expand, and/or furnish six more kindergartens and three more schools in Ulaanbaatar and Khuvsgul aimag. This additional financing will benefit about 1,900 children.

ADB committed a $100 million policy-based loan to help accelerate investment in climate action in Mongolia. The program will help strengthen the institutional framework, investment planning, and budgeting system for climate action and will catalyze public and private finance to accelerate the transition to a low-carbon and resilient economy.

ADB committed $93 million for the first tranche of a multitranche finance facility to support the green and inclusive development of Mongolia’s aimags and soums (secondary subdivisions outside Ulaanbaatar). Focusing first on western aimags, the program will support climate-resilient, high-carbon sequestration, and sustainable rangeland management to empower herder groups and improve their resilience. It will promote renewable energy and low-carbon urban services, creating livable aimag and soum centers as anchors for a green agribusiness value chain.

ADB committed a financial intermediary loan of $57.1 million to improve the competitiveness and climate resilience of Mongolia’s agriculture sector. It will support the adoption of technologies used by agriculture-related enterprises to increase processing and value-added manufacturing capacity. It will also help agro-enterprises improve business operations and quality standards to enhance exports.

To enhance the private sector’s role as a driver of sustainable and inclusive economic development, ADB committed technical assistance to assist the implementation of Mongolia’s new public–private partnerships law.

Students from the Sainshand School No.2 benefited from the rehabilitated facilities, furniture, and educational equipment that was provided by the ADB. Photo: Kevin Hamdorf/ADB

Nonsovereign operations. Total outstanding balances and undisbursed commitments of ADB’s nonsovereign transactions in Mongolia as of 31 December 2024 amounted to $165.13 million representing 1.28% of ADB’s total private sector portfolio.

ADB committed the local currency (togrog) equivalent of $13.4 million as a nonsovereign loan for Orchlon School and Kindergarten Complex LLC to establish the country’s first internationally certified green educational facility. In the finance sector, ADB committed $14 million to Bogd Bank JSC, $40 million to XacBank, and $12.5 million to Khan Bank to expand access to finance for micro, small, and medium-sized enterprises, support women-led businesses, and promote financing for mitigation and adaptation. Through a local currency (togrog) equivalent loan of $16.3 million, the bank is supporting APU Dairy LLC to increase the company’s raw milk procurement and dairy processing capacity.

Cumulative disbursements. Cumulative sovereign and nonsovereign loan and grant disbursements to the Mongolia amount to $3.48 billion. These were financed by regular and concessional ordinary capital resources, the Asian Development Fund, and other special funds.

Operational challenges. Key challenges in project implementation include inadequate project readiness, which often causes startup delays. Harsh climatic conditions limit construction to half the year, while inadequate project management capacity within executing and implementing agencies hampers effective oversight and coordination. The local construction industry struggles with large-scale projects, leading to delays and quality issues. Insufficient and delayed government counterpart funding creates financial bottlenecks, and the absence of an effective asset management framework undermines the sustainability of operation and maintenance of completed assets.

To address these challenges, ADB collaborates with line ministries and executing agencies, providing technical assistance to improve project readiness and ensure timely, successful project completion.

Knowledge Work

In 2024, ADB convened a dialogue with 60 civil society organizations in Ulaanbaatar to explore collaborative opportunities, bringing together more than 100 participants representing government, civil society, and development partners. Inputs from this event will inform ADB’s upcoming country partnership strategy for Mongolia covering 2025–2028.

ADB and the Ministry of Family, Labour, and Social Protection of Mongolia organized a social protection forum in October 2024. More than 70 policymakers from Azerbaijan, Indonesia, Mongolia, Pakistan, the Philippines, and Uzbekistan discussed targeting, food security, economic inclusion, adaptive social protection, and care services.

ADB also published a brief titled Do Local Producers Contribute to Mongolia’s Mining Supply Chain? It outlines ways to boost local producers’ contribution in the mining supply chain, aiming to maximize the sector’s benefits and promote sustainable growth.

  ADB Projects in Mongolia Project data sheets for loans, grants, TAs