ULAANBAATAR, WORLD BANK GROUP AND IFC DISCUSS EXPANDING PRIVATE-SECTOR INVESTMENT IN THE CAPITAL CITY’S MEGA PROJECTS

 

B. Purevdagva, Governor of the Capital City and Mayor of Ulaanbaatar, and G. Gangamurun, Chief Executive Officer of UBIM, met with representatives of the World Bank Group and the International Finance Corporation (IFC).

During the meeting, the parties exchanged views on ongoing and future projects in Ulaanbaatar, with a focus on infrastructure, transportation, energy, environment, municipal finance, and increasing private-sector participation.

It was highlighted that 93% of financing for the Capital City’s mega projects currently comes from budgetary investment, while only 7% is sourced from non-budgetary financing. Accordingly, greater private-sector participation and further diversification of financing sources were identified as key priorities going forward.

The World Bank Group expressed its willingness to explore opportunities to continue cooperation with the Capital City in areas including bond financing, flood resilience, climate action, and air pollution reduction.

UBIM is working to increase non budgetary financing for the Capital City’s strategic projects and programs, while expanding the participation of the private sector and international investors.