ADB provides $100 million in emergency loans to Mongolia
Funds will be used to expand government support for vulnerable households
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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