ADB provides $100 million in emergency loans to Mongolia

Ulaanbaatar
Ulaanbaatar
François Philipp

The Asian Development Bank has allocated $100 million in emergency loans to help the Mongolian government weather the impact of economic shocks.

The Russian invasion of Ukraine and continuing border restrictions with China due to Covid-19 have caused substantial fiscal stress in Mongolia, the ADB said in a statement on August 25.

“This ADB loan will support government measures to stabilise the economy,” said ADB financial sector specialist Peter Rosenkranz. “The budget support provided through

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