ADB, Mongolia Sign Projects for COVID-19 Shock Response, Economic Cooperation Zone, Solid Waste Management The Asian Development Bank (ADB) and the Government of Mongolia today signed three projects to lessen the socioeconomic impacts of the coronavirus disease (COVID-19) pandemic on poor and vulnerable groups in Mongolia, to help support Mongolia’s post-pandemic recovery by developing an economic cooperation zone, and improve solid waste management. Signing the Shock-Responsive Social Protection Project, for which ADB approved a $26.4 million loan, and the solid waste management project, for which a grant of $2 million is being provided from the Japan Fund for Poverty Reduction (JFPR), were ADB Country Director for Mongolia Pavit Ramachandran and Mongolian Minister of Finance Khurelbaatar Chimed. Signing the Developing the Economic Cooperation Zone Project, for which ADB is providing a $30 million loan, were Mr. Ramachandran and Deputy Prime Minister of Mongolia Enkhtuvshin Ulziisaikhan. Mr. Matsuhashi Tomoyuki, Second Secretary of the Embassy of Japan in Mongolia, and representatives from line ministries also attended the ceremony. “The Shock-Responsive Project is a key part of ADB’s package of support to mitigate the impact of COVID-19 in Mongolia,” said Mr. Ramachandran. “The project aims to lessen the socioeconomic impacts of the COVID-19 pandemic on poor and vulnerable groups in Mongolia, and to support the government’s response in social protection.” The economic cooperation zone project, meanwhile, will help stimulate the economy by providing job opportunities, improving connectivity, and reducing trade costs. The project will also facilitate international trade and help diversify Mongolia’s economy, which is crucial to the country’s post-pandemic economic recovery. 2020-07-03

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