Promoting Finance Sector Development

Approved

To increase its resilience to the impact of repeated boom-bust cycles, and to enable further economic diversification, the finance sector requires comprehensive modernization. In response, the Government of Mongolia requested the Asian Development Bank (ADB) for technical assistance (TA) support in the following areas: (i) development of a plan to modernize the sector's institutional and physical market infrastructure; (ii) strengthening the role of nonbank financial institutions in the finance sector, notably the insurance market; and (iii) assisting the government with the preparation of a comprehensive sector development program, including medium-term capital investment requirements.