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Mongolia has an established multi-party system, a pluralistic society, and is making good progress towards becoming a market economy. Although the country has experienced robust economic growth, there has been little improvement in poverty reduction.
Mongolia made good progress in a number of structural reform areas, including price and trade liberalisation as well as privatisation, while progress in corporate restructuring and governance lags behind. The banking system has grown in size and financial regulation has improved though the sector is currently facing significant challenges which need to be addressed. Some infrastructure improvements have been made, but commercialisation and private sector participation in infrastructure is at an early stage of development.
EBRD and Mongolia
Against this background, the EBRD will focus support and activities in Mongolia on facilitating enterprise restructuring and improving corporate governance. It will work towards managing mineral wealth and diversifying the economy as well as strengthening the financial sector and improving the business environment. Efforts will also be focused on developing public infrastructure in Mongolia, particularly in promoting commercialisation and private sector involvement.
Last updated 21 April 2010