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 EBED 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.
The meeting was attended by Director of Parliament’s Standing Committee on Ethics B.Bat-Erdene, MP D.Terbishdagva and other officials.