PRESIDENT MEETS WORLD BANK'S COUNTRY MANAGER AND RESIDENT REPRESENTATIVE JAMES ANDERSON

Ulaanbaatar /MONTSAME/ On August 3, the President of Mongolia Khaltmaagiin Battulga welcomed James Anderson, the Country Manager and Resident Representative of the World Bank for Mongolia. They exchanged opinions on the relationship and cooperation between Mongolia and the World Bank. World Bank's Country Manager Mr. James Anderson congratulated President Battulga on the election of the President of Mongolia. President Battulga noted: “Yesterday, I held a meeting with representatives of the International Monetary Fund and expressed my stance. Mongolia is like desert sand absorbs water without any benefit. Mongolia cannot benefit from the international investment or financing, if we don’t change the economic foundation. We have to fix our economic system”. The World Bank Group has set two goals for the world to achieve by 2030: end extreme poverty by decreasing the percentage of people living on less than USD 1.90 a day to no more than 3% and promote shared prosperity by fostering the income growth of the bottom 40% for every country. The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries. Source: President.mn B.Tugsbilig