Mongolia will borrow USD 20 million from the Asian Development Bank under an agreement reached on Friday. The agreement was signed by Finance Minister S.Bayartsogt and the permanent representative of the Asian Development Bank to Mongolia, Robert Schoellhammer.

The loan will fund higher education reform projects in Mongolia, including efforts to meet international standards and train professionals for high-demand jobs. 

The money will also pay for online training centers, improving training facilities, establishing distance-learning centers in the countryside, and research in the fields of engineering and agriculture.