Mongolia to Implement Affordable Housing Program with World Bank

Ulaanbaatar, September 3, 2025
/MONTSAME/. The Prime Minister of Mongolia, Zandanshatar Gombojav, received
the Vice President of East Asia and the Pacific at the World Bank, Manuela V.
Ferro, on September 2, 2025.

Prime Minister Zandanshatar
expressed his gratitude to the World Bank for its valuable contribution to
Mongolia’s social, economic, and infrastructure development over the past 34
years, since 1991. He acknowledged the Bank’s consistent partnership through
the financing of numerous projects and programs. During the meeting, the Prime
Minister also outlined the Government’s key policy priorities and strategic
objectives. He emphasized that human development lies at the core of Mongolia’s
policy agenda, alongside goals such as green transition, digital
transformation, public sector productivity, and tax reform. He further
highlighted the Government’s efforts to reduce the country’s dependence on the
mining sector by diversifying the economy, including targeted support for the
private sector and expanding the range of exportable products.

Vice President Manuela V. Ferro
praised Mongolia’s swift economic recovery following the COVID-19 pandemic and
noted the country’s progress in recent years in both social and economic
development. She stressed the importance of diversifying the economy through
the development of agriculture, particularly the wool and cashmere sectors, as
well as the potential of renewable energy and tourism industries.

Prime Minister Zandanshatar
underscored the urgent need to implement an affordable housing program and to
establish a financing system that improves access to credit, as part of efforts
to reduce air pollution in Ulaanbaatar and enhance citizens’ quality of life. In
response to the Prime Minister’s proposed collaboration with the World Bank in
this area, the World Bank expressed its readiness to continue working in
partnership with Mongolia to support these development goals.

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