 Parliament Speaker D.Demberel has met with a
team from the European Bank for Reconstruction and Development led by Olivier
Descamp to discuss areas of cooperation.
Demberel said Mongolia
is coming out of the economic crisis and expected to be back on the growth
path, especially as big mines begin to be developed. He underlined the
importance of developing infrastructure and expressed interest in cooperating
with the EBRD in strengthening the banking sector and financial markets.
Mr. Descamp recalled how the EBRD has
cooperated with Mongolia
for three years now and said the bank has developed a new cooperation strategy.
It would be happy to offer support to the areas mentioned by the Speaker and
also in financing work on major deposits such as Oyutolgoi and Tavantolgoi.
Praising the recent amendments to the Banking
Law giving the Central Bank more power as also the Concession Law, Mr. Descamp
said the EBRD would be happy to help use the latter in setting up a new power
plant.
The bank has financed Mongolia’s
private companies to the extent of USD200 million so far, apart from investing
USD350 million in joint ventures and has implemented 25 projects.
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