Millennium Challenge Account–Mongolia ends assistance

Due to closure of the Millennium Challenge Account-Mongolia program on September 17th 2013, the Government of Mongolia issued a decision to close down the Account.

The Millennium Challenge Account-Mongolia (MCA-Mongolia) signed with the Government of Mongolia and the Federal Government of the United States on October 22nd 2007 to implement a Compact (Cooperation Agreement) that has been effective since September 17th 2008.

The Prime Minister of Mongolia, six members of the Government were included in the MCA-Mongolia`s Board of Directors.

A study shows that Mongolia benefited 270,660,000 US dollars, or 95 percent of the five-year 284,911,363 US dollar Mongolia Compact. The Compact was signed to enable key institutions and infrastructure to better support the country"s growing urbanized, market-based economy and help Mongolians to increase their incomes by becoming healthier and better trained, by using their land assets more productively, and by increasing their capacity to trade with the world.

The MCA-Mongolia program has implemented six projects over the past five years in Mongolia; the Roads Project, the Property Rights Project, the Peri-Urban Range Land Project, the Vocational and Education Project, the Health Project and the Energy and Environment Project.

SOURCE OF THIS ARTICLE : News.mn