AKIPRESS.COM - President of Mongolia Khaltmaagiin Battulga on November 14 received delegates headed by Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD), Montsame reports.

The President expressed gratitude to the EBRD for its investment of EUR 1.7 billion with a view to develop private sector in the past period and exchanged a wide range of views on formulating strategy document to cooperate with Mongolia until 2024 and defining priorities of cooperation.

Sir Suma Chakrabarti said that during its cooperation with Mongolia, EBRD intends to implement one or two large projects within a year and it plans to spend EUR 200-250 million for annual financing for the projects towards enhancement of public utility services in Ulaanbaatar, including provision of electricity, sewage treatment, auto road and public transport.

Mentioning that Mongolia’s recent construction works in auto road and railway are meeting with the goals and objectives of the EBRD, Sir Suma Chakrabarti expressed commitment to support projects in agriculture and tourism sectors.

In the end, the President said he hopes that the projects and programs to be funded with EBRD will contribute to diversify Mongolian economy and wished success.