Mongolia

Home >> Partners >> CAREC Countries >> Mongolia

Mongolia spreads across 1.5 million square kilometers of the Central Asian plateau, strategically bordering the Russian Federation in the north and the People's Republic of China in the south. Much of its land area is covered by steppes, with high mountains and valleys to the north and west, and the Gobi desert to the south.

— Ministry of Nature, Environment and Tourism

Mongolia in CAREC

Mongolia joined CAREC in 2003
Since 2003, $370 million has been invested in transport, trade, and energy
Mongolia currently has six ongoing CAREC projects
Since 2001, two CAREC projects have been completed

CAREC Contacts

CAREC-related Projects

Regional Logistics Development Project
	Sector: Transport	Date approved / Status: 13 December 2010 (Ongoing)
	Expected outcome: The project will promote international and regional trade in Mongolia by developing an efficient, competitive, and reliable multimodal transport system at Zamyn-Uud.
	Funding amount: $40.00 million (Loan) (Asian Development Bank) $5.00 million (Grant) (Asian Development Bank) $26.64 million (Government of Mongolia)

Customs Modernization Project - Loan
	Sector: Trade Facilitation	Date approved / Status: 20 December 2006 (Completed)
	Expected outcome: The project will increase the volume of trade; and facilitate the smooth flow of external trade of Mongolia by improving efficiency, transparency, and sustainability in customs services and administration.
	Funding amount: $5.00 million Loan (Asian Development Bank) $1.26 million (Government of Mongolia)

Western Regional Road Corridor Development Program - Tranche 1
	Sector: Transport	Date approved / Status: 22 December 2011 (Ongoing)
	Expected outcome: The first project of the investment program will improve transport accessibility in the western region of Mongolia, contributing to the region’s economic growth.
	Funding amount: $45.00 million (Asian Development Bank) $27.85 million (Government of Mongolia)

1 2 3

View more projects

Feature

External trade turnover reaches $11 billion. Mongolia traded with 146 countries in 2012, reaching a total trade turnover of $11.1 billion. Read more.
WB: Mongolia improves environment for doing business. World Bank's Doing Business 2013 ranked Mongolia at 76th place out of 185 countries, an improvement from last year's 88th place out of 183 countries. Read more.

Previous features

Economic Outlook

Highlights from the Asian Development Outlook 2012:
Medium-term economic prospects are excellent, with a very large mining project expected to begin production early next year and another in the initial stage of development. Growth has been driven both by the booming mining sector and by too rapidly increasing government expenditure. There are signs of overheating, reﬂected in double-digit inﬂation. As already scheduled by the government, a substantial ﬁscal reserve needs to be built so as to protect against contingencies, including a drop in global commodity prices. Read more.