In Short : The Asian Development Bank (ADB) is set to initiate projects in Mongolia aimed at boosting the agriculture sector and enhancing the transport and trade domains. These endeavors align with efforts to promote economic development, improve infrastructure, and foster sustainable growth in Mongolia, as supported by ADB initiatives.
In Detail : ULAANBAATAR, MONGOLIA : The Asian Development Bank (ADB) has approved two projects totaling $157.1 million to spur agriculture competitiveness and enhance trade and logistics in Mongolia.
“ADB is Mongolia’s key development partner in trade, transport, and logistics, which is crucial to drive sustainable, inclusive growth,” said ADB Country Director for Mongolia Shannon Cowlin. “The projects will assist Mongolia to improve its policies and infrastructure investments in these sectors, enhancing trade efficiency, market access and diversifying livelihood opportunities.”
The $57.1 million Agriculture and Rural Development Project, Phase 2 aims to improve the competitiveness and climate resilience of Mongolia’s agriculture sector. It will support the adoption of technologies by agriculture-related enterprises to increase processing and value-added manufacturing capacity. It will also help agro-enterprises to improve business operations and quality standards to enhance exports.
The project will also help herders and farmers optimize production by improving the quality of livestock and other agricultural products, building capacity in climate-resilient production and enhanced animal husbandry practices, and providing training on essential equipment. The project will also support the integration of herders and farmers into value chains to enhance earning capacities.
The $100 million Border Efficiency for Sustainable Trade Project, meanwhile, aims to enhance Mongolia’s trade sector resilience, promote export diversification and improve efficiency in the movement of people and goods through land ports. This will be done by upgrading border facilities and incorporating climate adaptation measures, installing smart border technology and equipment and enhancing trade facilitation systems.
The project will also improve regional health security by strengthening the surveillance, early detection, and response to animal and human infectious diseases, as well as biological contagion threats associated with agricultural products. The project will also introduce One Health coordination mechanisms at the borders, which aims to optimize and balance the health of people, animals, and ecosystems. A $5 million grant is sourced from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.