On June 2, S. Bayartsogt, Minister of Finance received S.Shamsuddin, Executive Director of the Asian Development Bank (ADB) for Mongolian affairs.

The Finance Minister mentioned that Mongolia’s side is going to discuss matters with ADB’s working group, which will work here in June. This will present an opportunity for Mongolia by providing terms to receive financing from the ADB’s simple capital resource.

The Minister of Finance thanked Mr. Shamsuddin for promptly making a decision on rendering nonrefundable aid of USD 2.5 million from the Asia- Pacific Fund of Combating against Disasters, through ADB, that was dedicated to herder families suffering from the dzud disaster,. The Minister and Mr. Shamsuddin exchanged views on a strategic document on Mongolia-ADB cooperation for the years 2010-2015.

Mr. Shamsuddin expressed his willingness to study opportunities for bilateral collaboration and to expand the cooperation, saying that he will soon give an official report to Mongolia.

The ADB has been cooperating with Mongolia since 1991. In that time, it has rendered assistance of over USD 750 million to Mongolia for development, implemented various projects and programs in road, transportation, urban development, education and health sectors.

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