The Asian Development Bank (ADB) has rolled out its new Country Partnership Strategy (CPS) for Mongolia covering 2025 to 2028. This four-year plan aims to promote diversified growth in Mongolia, while also advancing sustainability and empowerment.
To begin with, ADB has set three strategic priorities. These include boosting inclusive economic growth, building resilience, and expanding opportunities for all Mongolians. In addition, the strategy focuses on crosscutting goals like climate action, digital transformation, and gender equality.
Moreover, ADB Country Director Shannon Cowlin confirmed the strategy aligns closely with Mongolia’s national goals. According to her, it also tackles long-standing challenges like overdependence on mining and related economic instability. Therefore, the strategy will help develop other sectors, especially agribusiness, finance, and renewable energy.
Under the first strategic priority, ADB will strengthen public and macroeconomic management. Specifically, the bank will support debt control, resource mobilization, and sovereign wealth fund development. Furthermore, it will assist in state-owned enterprise reforms. At the same time, ADB will promote private sector growth by improving the investment climate and supporting public–private partnerships.
In addition, ADB plans to reinforce financial institutions and stabilize the banking sector. It will also support the mining of critical minerals. Importantly, the bank will invest in better transport infrastructure, both regionally and domestically. As a result, logistics costs should drop and trade will become more efficient.
Meanwhile, to achieve the second priority of resilience, ADB will enhance climate-related policies and institutions. Equally important, it will mobilize sustainable financing and expand access to green loans and bonds. ADB will also focus on rural resilience by strengthening food security, developing agribusiness, and improving disaster readiness.
Besides that, the bank will invest in green and resilient infrastructure. It will upgrade urban services in Ulaanbaatar’s ger areas and improve facilities in aimag and soum centers. At the same time, it will develop low-carbon housing and support satellite cities. In the energy sector, ADB will promote decarbonization, modernize the grid, and invest in clean energy.
The third priority centers on people. To support empowerment, ADB will strengthen education, healthcare, and social protection. Education investments will focus on vocational training and early learning. Additionally, higher education reforms will better match labor market needs.
In terms of health, ADB will improve hospital governance and primary care. It will also expand emergency services and strengthen regional health centers. Likewise, social protection reforms will target better data use and labor programs to reduce cash dependency.
Throughout the CPS period, ADB will integrate sovereign, non-sovereign, advisory, and knowledge efforts. Additionally, it will maintain strong collaboration with development partners in every sector. As a result, the strategy will push for lasting impact.
