Mongolia
CAREC in Mongolia
Mongolia joined CAREC in 2003, just as the program began to implement a seamless transport corridor network.
Mongolia stretches across 1.5 million square kilometers (km) of the Central Asian plateau, lodged between the Russian Federation and the People’s Republic of China (PRC). Much of its land is covered by steppes, with high mountains and valleys to the north and west, and the Gobi Desert to the south.
CAREC is integral to Mongolia’s efforts to capitalize on the significant opportunities offered by the country’s vast natural resources. For example, the program is turning barren land into a major gateway for trade by developing an international transport route connecting the Russian Federation with the PRC.
The construction of a logistics center in Zamyn-Uud, a crossing point on the PRC border, has enabled the efficient handling of growing volumes of exports and reduced transit bottlenecks. Modernized border-crossing points (BCPs) and upgraded roads are delivering further economic benefits.
Cumulative Investments
As of December 2024, more than $1.4 billion was invested across 19 CAREC-related projects in Mongolia. More than $978 million (66%) is in 12 transport projects, 9 of which were financed by ADB. ADB is the biggest financier for CAREC-related investments.