Mongolia’s infrastructure receiving financial boost

Finance packages from the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) will pay for infrastructure development work in Mongolia. The US$334 million loan from the ADB will be used for five infrastructure projects, with a significant slice being directed towards improving the road connecting capital Ulaanbaatar with Darkhan, Mongolia’s third largest city which lies to the north. This route is of importance as to the north of Darkhan, it crosses the border into Russia and links with Ulan-Ude in East Siberia. Upgrades to regional roads and border crossings will also be amongst the work being prioritised. Meanwhile the $300 million loan from the EBRD will also be used to improve infrastructure.