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Since the beginning of transition two decades ago, the country has adopted a liberal Constitution, developed a competitive political party system and established a vibrant civil society. The media are free to report on a wide range of issues and there is a general increasing adherence to the rule of law and respect of human rights, though significant challenges remain.
A major challenge for the new Government, established following the June 2012 parliamentary elections, is to manage transparently the wealth generated by vast natural resources in a country with significant levels of poverty. Mongolia’s future is closely tied to the development of the minerals sector and a key task, going forward, is to put in place accountable institutions and policies that ensure transparent wealth management, a stable macro-economic environment and a business environment that supports further development of the private sector.
EBRD and Mongolia
The Bank will seek to align its operations with the priorities of the Mongolian Government and will cooperate closely with other international financial institutions and multilateral and bilateral partners, including the European Union. The Bank will engage in active policy dialogue and continue to provide technical assistance to maximise transition impact in Mongolia.
Last updated 26 June 2013