ADB signs first-ever tourism project in Mongolia

Published on : Friday, January 29, 2016

tourism project in MongoliaThe Asian Development Bank (ADB) and the Government of Mongolia has signed grants to promote Mongolia’s tourism, education and housing sectors. The grant agreements total projects worth $7 million.

 
Signing for the Government of Mongolia was the Minister of Finance B. Bolor, while ADB Country Director Robert Schoellhammer signed on behalf of ADB.

 
The three grants are funded by ADB’s Japan Fund for Poverty Reduction (JFPR), which over the past 16 years has supported 42 projects in Mongolia dealing with poverty alleviation, livelihoods, and the environment.

 
The projects will benefit the environment and livelihoods at Khuvsgul Lake National Park in northern Mongolia, upgrade school dormitories in Mongolia’s western region, and improve affordable housing in Ulaanbaatar, the national capital.

 
“The Khuvsgul Lake project is ADB’s first-ever tourism project in Mongolia—an undertaking that will help create jobs, develop sustainable community-based tourism, and protect the environment,” said Schoellhammer.

 
The Khuvsgul Lake project will focus on promoting sustainable tourism, community livelihoods, and environmental protection around the lake. Collaborative approaches will be implemented between the park authority, residents, and tour operators, to strengthen local tourism business and waste management.

 
Established in May 2000, the Japan Fund for Poverty Reduction (JFPR) provides direct grant assistance to the poorest and most vulnerable groups in developing member countries of ADB, while fostering long-term social and economic development.

 

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region.

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