ADB President announces up to $1.3 billion in planned financing for Mongolia

ULAANBAATAR, MONGOLIA (1 October 2026) — Asian Development Bank (ADB) President Masato Kanda met President Khurelsukh Ukhnaa during a visit to Mongolia, where he announced plans to invest $1.3 billion in the country by 2027. As part of that effort, ADB signed three loan agreements this week totaling $455 million to modernize provincial health services, protect access to education during economic pressures, and strengthen Mongolia’s disaster preparedness.

“People place enormous trust in the institutions responsible for their children’s education and their families’ health,” said Mr. Kanda. “Mongolia’s efforts to earn and sustain that trust deserve our full support. This financing will also help keep essential services dependable through economic hardship and strengthen the country’s ability to protect its people when disaster strikes.”

President Ukhnaa also conferred the Friendship Medal of Mongolia on President Kanda in recognition of his and ADB’s significant contributions to Mongolia’s development since 1991. Mr. Kanda will meet Prime Minister Uchral Nyam-Osor at the State Palace, after meeting Finance Minister Mendsaikhan Zagdjav at Marshal Palace.

The financing includes $225 million for the Provincial Health Service Strengthening and Modernization Project, $130 million in second additional financing for the Sustaining Access to and Quality of Education During Economic Difficulties Project, and $100 million for the Strengthening Mongolia’s Disaster Resilience Capacity Project.

On 30 September, Mr. Kanda visited a herder family at Nogoon Tolgoi, about 54 kilometers from Ulaanbaatar, where he heard firsthand about the challenges facing herding households and their ability to withstand impacts from extreme weather and economic shocks. He also met staff at ADB’s Mongolia Resident Mission to discuss their work supporting ADB’s 35-year partnership with Mongolia, where it is the largest development partner.

Mr. Kanda delivered keynote addresses at the CAREC Ministerial Conference and the CAREC Business Forum, calling for stronger regional integration and more private investment to create new economic and trade opportunities. He also witnessed the signing of CAREC memorandums on capital market development, critical minerals, and the establishment of the CAREC Chambers Alliance.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.

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