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Economy / Mongolia News / July 20, 2016

IDA to provide USD 20 million loan to Mongolia

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The International Development Association (IDA) is to provide a USD 20 million loan to Mongolia. The World Bank’s executive council has approved this loan, which will support the expansion of the volume and range of Mongolian exports. The loan will facilitate credit easing in all non-mining sectors and will particularly support small-and medium-sized enterprises (SME’s) in competitiveness and market access.

In 2015, mining products accounted for 87% of overall Mongolian exports and cashmere 5%.


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