World Bank inks deal with Mongolia, provides $22.7m for third phase of a project

ULAANBAATAR: The World Bank announced a new agreement with Mongolia, provides $22.7 million for the third phase of a project supporting the country’s effort to empower rural communities in a more diversified and modern economy.
The Third Sustainable Livelihoods Project (SLP III) will help Mongolia further implement the Integrated Budget Law of 2011 that gave rural communities a greater role in the government-funding process. SLP III also supports local economic development through the “Soum Program” that promotes investments for private sector growth in the more than 300 soums – or local administrative districts – throughout the country.
  1. Erdenebat, Mongolia’s Minister of Finance, signed the credit agreement today with Bert Hofman, the World Bank’s Country Director for China, Korea and Mongolia. Since its inception in 2002, the three-phase Sustainable Livelihoods Program has backed efforts by the Mongolian government and the international community to modernize a mostly rural and under-developed economy.
Hofman said, “The adoption of the Integrated Budget Law was a major milestone for empowering rural communities and provides a transparent mechanism for fiscal transfers for local development. With this in place, the SLP III project will build the capacity of local governments and communities to manage local development initiatives.”
Share:

0 comments:

Post a Comment

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic