According to the joint calculation of the National Statistical Office and the World Bank, Mongolia’s poverty rate is at 28.4 percent and the sides concluded that it shows poverty in Mongolia is high and the citizens cannot benefit from the economic growth.

“Achievements were made in developing rural infrastructure, road and transport and improving electric supply in the past years and it brought results in ending migration and supporting rural development. However, implementing major projects targeted to increasing income of herding families will reduce poverty more quickly,” the President said and presented in detail some projects and programs to Ms. Victoria Kwakwa.

Ms. Victoria Kwakwa said that it is gaining attention of the World Bank that the work has begun to process goods such as meat, hide and skin, wool and cashmere, which are source of income of over 180 herding families, making feasibility study of export projects as well as commencing trial export of some products.

Moreover, she assigned the World Bank’s Country Manager for Mongolia Andrei Mikhnev to be acquainted with the projects and pledged to actively work towards making them coherent with ongoing projects and discussing with World Bank’s regional country managers to support the projects to be carried out at the regional level.

Mutually expressing gratitude on openly discussing and sharing views in the time of defining scope of partnership between Mongolia and the World Bank in 2020-2024 and reciprocally agreeing strategic documents, the two sides agreed to stably back up the aforementioned projects, which will reduce poverty and support development of non-mining sectors.