New Recovery Policy (Mongolia)
 | |
| Development program overview | |
|---|---|
| Formed | 31 December 2021 |
| Jurisdiction | Government of Mongolia |
| Minister responsible | |
| Website | www |
New Recovery Policy is a mid-term economic policy launched by the government of Mongolia aimed at revitalising the country’s economy following the outbreak of the global COVID-19 pandemic, as part of the country's Vision 2050.[1] Introduced by Prime Minister L. Oyun-Erdene, the policy seeks to enhance Mongolia's economic independence, mitigate the adverse economic effects of the COVID-19 pandemic, and tackle development challenges over a 10 year period.[2][3]
Overview
[edit]Strategic Pillars
[edit]The New Recovery Policy focuses on six interrelated areas to promote Mongolia’s economic resilience and growth:[4][5]
- Energy Recovery
- Border Ports Recovery
- Industrial Recovery
- Urban and Rural Recovery
- Green Development Recovery
- Recovery Public Sector Efficiency
Funding and international collaboration
[edit]The New Recovery Policy is supported by a financial framework combining domestic resources and foreign investment. In 2022, the government secured commitments amounting to MNT 150 trillion for infrastructure and development projects. International organizations, including the United Nations, World Bank, European Bank for Reconstruction and Development and Asian Development Bank, have participated in consultations and provided technical assistance.[2][6][7][1]
See also
[edit]References
[edit]- ^ a b "Mongolia Highlights 'New Recovery Policy' at Economic Forum". thediplomat.com. Retrieved 2025-03-11.
- ^ a b "New Recovery – New Partnership: Government of Mongolia's consultation with the Development Partner community | United Nations in Mongolia". mongolia.un.org. Retrieved 2025-03-11.
- ^ Borodyna, Olena; Mami, Elvira; Nijhar, Ilayda (2023-04-04). "Mongolia: towards sustainable economic recovery". ODI: Think change. Retrieved 2025-03-11.
- ^ "Mongolia's Economic Outlook: Recovery and Resilience". Asia House. Retrieved 2025-03-11.
- ^ Б.Анхтуяа (2022-04-13). "PM sets out ambitious goal to double Mongolia's GDP in six areas". News.MN. Retrieved 2025-03-11.
- ^ "Mongolia Jobs Diagnostic: More Vibrant and Inclusive Labor Markets for Economic Recovery and Diversification". World Bank. Retrieved 2025-03-11.
- ^ "Data on EBRD work in Mongolia". www.ebrd.com. Archived from the original on 2023-10-02. Retrieved 2025-03-11.