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Country data

Population:
2.7 million
Area:
1,567,000 sq km
Capital:
Ulaanbaatar
Currency:
Tugrug

Key developments and challenges

  • Mongolia’s economy continues to ride on the back of a mining boom. Economic growth reached 17.5 per cent in 2011 and 12.3 per cent in 2012. Commercial production has started at Oyu Tolgoi, one of the world’s largest copper deposits. Meanwhile, fiscal policies are procyclical, with risks of overheating.
  • Certain provisions of the foreign investment law have been relaxed. At the same time, significant foreign investments in mining, banking and other strategic industries remain subject to special government approval.
  • The government launched a comprehensive price stabilisation programme. A large component of the programme involves lending at below-market rates to eligible companies in certain industries. The funding is provided by the central bank – the Bank of Mongolia – via participating commercial banks.

Mongolia in the 2013 Transition Report

Our work in Mongolia

Our projects in Mongolia focus on financial institutions, property, retail, beverage production and mining.

Mongolia

Key facts about the EBRD's work in Mongolia

No. of projects

61

Net EBRD investment

€688 million

Gross disbursements

€549 million

Portfolio in private sector

100%

 

Last updated 31 March 2014

View factsheet

Support to SME Development

The European Union and the EBRD are working together to create a better business environment and a stronger SME sector in Mongolia through the Support to SME Development in Mongolia programme.

We are helping small to medium-sized businesses in Mongolia by working to improve the business environment in which they operate and by strengthening key organisations and institutions that affect the private sector. We also provide advice for Mongolian entrepreneurs, connecting clients to local consultants and international advisers who can help transform their businesses.


Our strategy in Mongolia

Mongolia’s rapidly growing economy offers increased opportunities but also poses new challenges. The basic principles of good public governance – adherence to the rule of law, strong institutions, accountability and transparency of government and a stable investment climate – are increasingly relevant for Mongolia in the next strategy period.

 

Read strategy

CONTACTS

3rd Floor
MCS Plaza
Seoul Street – 4A
210644 Ulaanbaatar
Mongolia
Tel: + 976 11 317 974/298
Fax: + 976 11 315 844