According to a joint calculation by the National Statistical Office and the World Bank, Mongolia’s poverty rate stands at 28.4 percent. The two organisations are in agreement that poverty in the country is still high and the public are not benefitting from the economic growth.
“Achievements were made in developing rural infrastructure, road and transport and improving electricity supply in the past years and it brought results in ending migration and supporting rural development. However, major projects aimed to increase incomes of herding families will reduce poverty more quickly,” President Kh.Battulga said to a World Bank delegation.
President Kh.Battulga met Victoria Kwakwa, the World Bank’s Regional Vice President for East Asia and Pacific as well as Mr. Andrei Mikhnev, World Bank’s Country Manager for Mongolia on 13 January.
The sides agreed to support those projects that will reduce poverty and further facilitate development of the non-mining sectors.