The Bank of Mongolia and the Asian Development Bank Exchange Views on Expanding Cooperation

The Governor of the Bank of Mongolia, Mr. S. Narantsogt, met with Mr. Chandra Mohan, Officer-in-Charge of the Mongolia Representative office of the Asian Development Bank, today.

During the meeting, the parties exchanged information on Mongolia's current macroeconomic conditions, as well as on the policy measures and reforms being implemented to strengthen financial stability and advance the development of the banking sector. The outcomes of ongoing cooperation and prospective areas for further collaboration were also addressed.

Both sides highlighted the tangible progress achieved under joint initiatives implemented in cooperation with ADB, including policy-based lending (PBL), climate finance programs, and technical assistance projects. These initiatives have contributed to enhancing economic resilience and supporting structural reforms in the financial sector. In this context, the Bank of Mongolia has initiated the implementation of IFRS 9, updated the regulatory framework on asset classification and provisioning, and is advancing efforts to strengthen the legal framework for financial consumer protection. In addition, measures are being undertaken to promote green finance and to enhance banking governance, financial reporting, and fintech regulation.

The parties also exchanged information on the forthcoming Annual Meeting of the Asian Development Bank, to be held in Samarkand, Uzbekistan, from May 3 to 6, 2026, and addressed opportunities to further strengthen cooperation in the areas of financial sector reform and climate finance.