UB to cooperate with ADB in state-private sector partnership

Ulaanbaatar /MONTSAME/ The Mayor of Ulaanbaatar city S.Bat-Uul Wednesday met Mr Ayumi Konishi, a director-general of the Asian Development Bank for Southeast Asian affairs, and Mr Robert Schoellhammer, the Country Director of the ADB for Mongolia. Expressing a satisfaction with the cooperation with the ADB in a partnership between the state and the private sector, the Mayor pointed out that the current economic crisis reminds the state that it is important to support the private sector. The Mayor said Ulaanbaatar intends to establish a corporation based on this partnership because "the city can develop itself and make its economy stable by boosting such a partnership". Then he asked the ADB to give technical assistance for founding this cooperation. In response, Mr Konishi said he is pleased to report that the ADB will collaborate with Ulaanbaatar in making flexible term investment to the development of the capital city. "We will cooperate with You in a proper exploitation of these investments," he said.