PM MEETS ADB PRESIDENT

Ulaanbaatar, Mongolia, /MONTSAME/ S.Batbold PM received Tuesday Mr Haruhiko Kuroda, a head of the Asian Development Bank (ADB) and congratulated him on being re-elected the ADB president.
Real investments made by the ADB to Mongolia reached about one billion USD, which is a one fourth of all loans and assistance give us since 1991, and it means that the ADB is the biggest partner-international organization of Mongolia, he said. S.Batbold underlined that it is a great honor to cooperate with the ADB.
The Premier said Mongolia intends to implement strategical projects and programs in order to ensure the intensive economic growth and sustainable development, with financing from international organizations. “In the very first turn, we must abolish our dependence on import of petroleum products, so Mongolia will begin a big project on processing brown coal,” S.Batbold said.
In response, Mr Kuroda said Mongolia managed to become one of the few countries who got big achievements in the macroeconomic stability in the last 20 years and who proved to be the country that strengthened the democracy.
“As predicted, Mongolia's GDP will increase in 10-20 years to come, and a good policy based on this growth will bring closer times when Mongolia will be a developed country,” Mr Kuroda said.
It is important for Mongolia to develop all sectors, not only the mining, he advised and said the bank increased the status of drawing rights for Mongolia. Now Mongolia can take big commercial loans, he added.
B.Khuder