Mongolia Joins World Bank Donor Fund
Mongolia contributes 4.8 billion tugriks to the World Bank fund for the poorest countries. This milestone follows nearly three decades as an IDA recipient before graduating in 2020.
Mongolia committed 4.8 billion tugrik ($1.3 million) to the World Bank's International Development Association fund on Saturday morning, shifting from a three-decade recipient to a donor. The transition marks a milestone for the nation after graduating from the concessional lending arm in July 2020. Since joining the development lender in 1991, the country has drawn more than $1.62 billion in financing for transport, health, and education.
