Mongolia overview

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Green landscape in Mongolia

Mongolia became an EBRD country of operations in 2006. The EBRD supports Mongolia in its transition to a full market economy and is currently the largest foreign investor in the country. All projects that we have supported have been in the private sector and almost all of these involve local entrepreneurs or banks.

One of the priorities for the EBRD in Mongolia is to support infrastructure projects with private sector participation, including public-private partnerships (PPPs).

The main priorities of the EBRD's work in Mongolia are:

Diversification: The EBRD will aim to expand its engagement with the non-extractive private sector.

Sustainable growth: We support the financial sector through small and medium-sized enterprise (SME)-debt programmes, equity and technical assistance.

Responsible mining and institutions: The EBRD continues to offer debt and equity finance to reputable mining companies which meet its high standards and will support institutional building. All of our support in the mining sector has thus far been directed to local enterprises.

Infrastructure and private sector development: The EBRD supports Mongolia's infrastructure-building "including through the development of renewable energy“ and promotes private sector involvement where possible.

The EBRD's latest Mongolia strategy was adopted on 19 October 2022

The EBRD in Mongolia: Results snapshot


Current EBRD forecast for Mongolia's Real GDP Growth in 2022 3.5%

Current EBRD forecast for Mongolia's Real GDP Growth in 2023 7.0%

Mongolia’s economic performance continues to be closely connected to China’s demand for its key export products (coal, copper and iron ore), though gold is rising in importance too (increasing from 7.3 to 20 per cent of total exports in 2020). In addition to the continued slump in tourism and hospitality activities, the recovery process in 2021 was hampered by intermittent border closures. Overall, in 2021 Mongolia achieved modest real GDP growth of 1.4 per cent.



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