The package is two loans, $48.5 million from the bank’s regular capital and $51.5 million on concessional terms, with $16.61 million from the government. By 2031 the project is to train and equip 200 community volunteer groups in 120 soums, build a national emergency response training centre and upgrade the agency’s Integrated Disaster Management System with geographic information systems, remote sensing and artificial intelligence tools.
Its country director John Juhyun Jeong called the hazards, dzuds, droughts, floods, wildfires and earthquakes, more frequent and more severe; the project’s aim, in the bank’s words, is a shift from reacting to disasters to reducing their risk. At the bank’s conversion the ₮1.9 trillion of losses is about $540 million.
The package is two loans, $48.5 million from the bank’s regular capital and $51.5 million on concessional terms, with $16.61 million from the government.
The loan follows the $450 million programme the Khural’s committees backed on 23 September, $200 million of budget support and a $250 million contingent line for disasters, inside a budget rewrite the plenary has yet to pass at third reading.