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ADB's president promises Mongolia $1.3 billion by 2027 and signs $455 million in a week

Asian Development Bank president Masato Kanda announced plans to invest $1.3 billion in Mongolia by 2027 during a visit in which he met President Khurelsukh, received the Friendship Medal and spoke at the CAREC ministerial conference, the bank said on Thursday. Three loans signed this week come to $455 million for provincial health, schools and disaster preparedness.

By CAW Staff1 October 2026
A bar chart showing three signed ADB loans for Mongolia inside a larger outline of the $1.3 billion planned to 2027

The $1.3 billion is a plan to 2027, and $455 million of it was signed this week. The 3 agreements are $225 million for the Provincial Health Service Strengthening and Modernization Project, $130 million as a second additional financing for the project that sustains access to and quality of education during economic difficulties, and $100 million for Strengthening Mongolia's Disaster Resilience Capacity, the release from Ulaanbaatar says.

"People place enormous trust in the institutions responsible for their children's education and their families' health," Kanda said. "Mongolia's efforts to earn and sustain that trust deserve our full support." Khurelsukh conferred the Friendship Medal on him for his and the bank's contribution since 1991, and the bank calls itself the country's largest development partner.

The $1.3 billion is a plan to 2027, and $455 million of it was signed this week.

The visit sat inside the 25th CAREC ministerial conference and the business forum beside it, which Ulaanbaatar hosted this week. Kanda told the ministers that the programme's members have mobilised more than $60 billion since 2001, $20 billion of it from the ADB, that the bank has raised $3 billion of the $10 billion it pledged last year, and that trade between the 11 members, though its share has more than doubled since 2001, was still a little over 5% of their total trade last year.

He put 2 more numbers on the region's grid. Through the Pan-Asia Power Grid Initiative the bank aims to mobilise $50 billion by 2035, and Azerbaijan's offshore wind potential, an estimated 159 gigawatts, is nearly 16 times its existing plants, he said in the speech. BUILD, the bank's border-crossing facility, offers up to $400 million.

Mongolia's new money lands on a budget under audit. Its National Audit Office found the 2027 draft's spending of 43.6 trillion tugrik to be 7.1 trillion, or 19.4%, above the ceiling set in May, News.mn reported on 30 September. The release's $100 million for disaster resilience carries a different project name from the $250 million contingent disaster line that parliament's committees backed on 23 September beside $200 million of budget support, and the release does not say how the 2 relate.

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