At the beginning of the meeting, Jorge Alejandro Chávez Presa, Executive Director at the World Bank Group, informed that the WBG delegation is visiting Mongolia to see implementation progress and outcomes of the projects being implemented by WBG, expressing pleasure with the macro-economic stabilization in Mongolia. He then inquired about the economic and social development policies being implemented by the Government of Mongolia.

For his part, Speaker G.Zandanshatar extended gratitude for consistently supporting development goals of Mongolia and gave detailed information about the ‘Three Pillar Development Policy', a reform policy for three main areas including governance, economy, and society. He highlighted that the country has been pursuing policies to develop small and medium industry, especially animal raw material-based industry, and increase manufacturing and export of value-added products while speaking of the possibility of creating a large number of jobs through increased export of cashmere products.

Moreover, WBG Executive and Alternate Executive Directors Aparna Subramani, Roman Kachur, Yingming Yang, and Claus Happe asked what sectors and activities are in need of the bank’s support, and about the policies being implemented to improve public services, strengthen capacity of local self-governing bodies, overcome environmental and climate changes, enhance business environment, promote human development, develop satellite cities, ease centralization in Ulaanbaatar, increase the efficiency of natural resource use and attract foreign investment. Head of the Parliamentary Standing Committee on State Structure D.Lundeejantsan and Head of the Parliamentary Standing Committee on Economy J.Ganbaatar answered their questions.

In addition, Speaker G.Zandanshatar informed of some of the actions, such as placing high focus on supporting foreign investors, collaborating with the investors in developing a favorable and stable legal framework, developing eco cities, and building campuses near the capital city. Furthermore, the Speaker proposed cooperating and implementing projects for creating jobs, eradicating poverty, reducing air pollution, and protecting the environment through developed railway network, infrastructure, agriculture, and tourism.