EBRD Directors visit Mongolia

By Svitlana  Pyrkalo

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A delegation from the EBRD’s Board of Directors, which represents the Bank’s shareholders, will visit Mongolia 31 October – 5 November 2011. 

The purpose of the consultation visit, which is part of a regular series of consultations, is to enable the directors to better understand the government's reform agenda, the priorities for the local economy and the expected role of the EBRD in Mongolia.

The EBRD delegation will meet with the representatives of the government, business and diplomatic community, representatives of the civil society organisations and international financial institutions in Mongolia. The EBRD directors will meet the President of Mongolia, the Speaker of the Parliament, the Ministers for finance, fuel and energy, environment and tourism, and the Governor of the Bank of Mongolia.

Apart from the capital Ulaanbaatar, the delegation will visit the site of the projected mine complex in Oyu Tolgoi.

Representatives of the EBRD Board on this visit will include Alain de Cointet, director for France; Zbigniew Hockuba, director for Poland, Bulgaria and Albania; James Hudson, director for the USA; Kalle Killar, alternate director for Estonia, Sweden and Iceland; Vassili Lelakis, director for the EU; Denis Morozov, director for the Russian Federation, Belarus and Tajikistan; Irena Sodin, alternate director for Slovenia, Belgium and Luxembourg; In-chang Song, alternate director for Korea, Australia, New Zealand and Egypt; and Paul Vlaanderen, director for Netherlands, Mongolia, Armenia and FYR Macedonia.

EBRD management will be represented by the Central Asia director Masaru Honma; senior political counsellor Mahir Babayev; the Head of the EBRD Resident Office in Ulaanbaatar, Philip ter Woort; and principal banker Batbayar Burentogtokh.

The EBRD has been investing in Mongolia since 2006. To date, it has invested in over 38 projects and has provided finance totaling over US$480 million, which attracted additional investment of about double that amount.

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