MOU ESTABLISHED WITH ADB ON SUSTAINABLE DEVELOPMENT OF URBAN AREAS

Ulaanbaatar /MONTSAME/ The Ministry of Construction and Urban Development has established a memorandum of understanding with the Asian Development Bank (ADB) on improving sustainable development of urban areas and increasing its competitiveness. The document was signed on Wednesday by S.Magnaisuren, State Secretary of the Ministry of Construction and Urban Development and Declan Magee, ADB senior economist. Having no specific plan or policy document for the development of Ulaanbaatar and center of 21 provinces, causes difficulties to draw investments. Therefore, a density and settlement area development program will be implemented with investment of USD 2 million. In the scope of the program, a package plan to develop the capital city and 21 provinces in short and long term will be formulated and approved by the Mongolian Government and Parliament. Arnaud Heckmann, a senior specialist of the ADB on urban development, emphasized that signing of the memorandum will become start for further activities. The ADB and Ministry of Construction and Urban Development also plan to implement several projects between 2017 and 2020. E.Altanzul