Asian Infrastructure and Investment Bank and Mongolia discuss cooperation

PM receiving the AIIB delegation

In a meeting with Prime Minister J.Erdenebat, Vice President of the Asian Infrastructure and Investment Bank (AIIB) D.J. Pandian spoke about the bank’s investment conditions and expressed interest in cooperating with Mongolia.

The Prime Minister underlined that Mongolia has supported the initiative to establish the AIIB from the very beginning. He noted that Mongolia closely observes the activities of the AIIB and hopes that its future activities will be successfully carried out.

Prime Minister J.Erdenebat suggested that Pandian pay attention to making investments in Mongolia’s infrastructure sector.

Following his meeting with the PM, Vice President Pandian was received by Minister of Roads and Transportation D.Ganbat to discuss investments in developing Mongolia’s transportation infrastructure sector.

Beginning the meeting, Minister Ganbat underlined that Mongolia, China, and Russia are establishing an economic corridor program. He said that through the program the three countries will collaborate on over ten road and railway development projects.

Minister Ganbat said, “Estimates show that Mongolia will need around 10,000 freight trains in the near future, in connection with the nation’s mining and industrial development. We need financing to implement a project to build a freight train fabrication factory. We also need to expand and renovate 205 kilometers of paved roads with socio and economic importance, connecting Ulaanbaatar to Darkhan, and to upgrade Umnugovi Province’s Gurvan Saikhan Airport to receive international flights. We want to cooperate with the AIIB in implementing these projects.”

The AIIB delegates promised to conduct comprehensive studies of the Minister’s proposals and closely cooperate with Mongolia.