The Asian Development Bank (ADB) and the Mongolian Government have signed a $15 million additional financing agreement to enhance access to quality pre-primary, primary, and secondary education in Mongolia. The agreement, inked by ADB Director General for East Asia Muhammad Ehsan Khan and ADB Governor Javkhlan Bold, addresses the economic impact of the COVID-19 pandemic on the education budget. The additional funding aims to mitigate missed educational opportunities by expanding school facilities, ultimately benefiting over 1600 children.
To address the challenges posed by the economic downturn due to COVID-19, the existing $50 million project, "Sustaining Access to and Quality of Education During Economic Difficulties," was initiated in November 2017. It focuses on improving access to and the quality of education in various Mongolian regions, constructing and expanding 21 schools and kindergartens, implementing curriculum reforms, supplying educational materials, and providing training for educators and administrators. The project also strengthens planning and management systems for education services.
The supplementary financing project will augment the existing initiative by constructing three more schools and six additional kindergartens, expanding the total to 30 educational institutions. This expansion, benefitting over 7,000 children, incorporates climate adaptation and resilience measures to minimize disruptions and enhance energy efficiency. Funded by ADB's concessional ordinary capital resources, the project is set to conclude in February 2027.
Established in 1966, the Asian Development Bank (ADB) is dedicated to realizing a thriving, inclusive, resilient, and sustainable Asia and the Pacific region. The organization remains steadfast in its commitment to eliminating extreme poverty and is collectively owned by 68 members, with 49 of them belonging to the region.
