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Economy / Mongolia News / Others / April 8, 2016

Mongolia wants to cooperate with AIIB in financing projects

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While taking part in the 19th Annual Asian Investment Conference in Hong Kong, the Prime Minister of Mongolia Ch.Saikhanbileg Wednesday met Mr Jin Liqun, the president of the Asian Infrastructure Investment Bank (AIIB).

The Premier congratulated Jin Liqun on being appointed the AIIB president and underlined that Mongolia accepted a proposal from the AIIB on co-founding the bank.

“During the APEC High-Level Meeting in 2013, the President of China Xi Jinping put forward a proposal on co-founding the AIIB to Asian countries including Mongolia, Pakistan and Sri Lanka. In 2015, Mongolian parliament ratified an agreement submitted by the government on becoming a co-founder of the AIIB,” the Premier mentioned.

In accordance with a memorandum established during a trilateral meeting of the Presidents of Mongolia, China and Russia last year in Russian Ufa, the three countries intend to co-formulate a programme on creating an economic corridor, the Premier said, and pointed out Mongolia wants to collaborate with the AIIB in resolving a financial matter for infrastructure projects within the programme.

In response, Mr Jin Liqun expressed a willingness to implement first-turn projects in Mongolia, and said the AIIB will study formulated infrastructure projects. He said it is possible to tackle investment issues in near future for the biggest and significant for Mongolia’s development projects.

Present at the meeting were Kh.Gantsogt, the State Secretary of the Ministry of Finance;  D.Gankhuyag, the State Secretary of the Ministry of Foreign Affairs; and other officials.


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