Mongolia will receive $285 million in aid from the United States, it was announced on Friday.
In a statement issued by the U.S. Embassy in Ulaanbaatur, the money is part of the Millennium Challenge Corporation (MCC) grant which will be used to reduce poverty.
Specifically, the money will be spent to upgrade the country’s rail system, modernize Mongolia’s vocational education system and improve the health and working conditions of the nation’s workforce.
Mongolia has received aid from the MCC since 2004.
The MCC provides significant aid to 15 partner countries in Africa, Central America, Eurasia and the Pacific, totaling nearly 4.9 billion dollars.
Mongolian President Nambaryn Enkhbayar and US President George W. Bush signed a five year, nearly $285 million Compact for Mongolia designed to reduce poverty through economic growth on 22 October 2007. The Compact Program is a US Government grant. It will support efforts to broaden and deepen economic development in Mongolia by focusing on four key areas including rail, property rights, vocational education and health.
On 8 January, 2008 The Parliament of Mongolia approved the Law on the ratification of the Compact Agreement and established a Board of Directors and the Government issued a resolution on MCA Mongolia establishment of MCA-Mongolia, an independent legal entity empowered to carry out the government’s obligations and to implement the program under the Compact Agreement and Program Implementation Agreement, responsible for the implementing the project within the Compact and for overseeing its Millennium Challenge Account (MCA).
The Government shall ensure that MCA-M take all appropriate actions to implement Program, including the performance of the rights and responsibilities designated to it by the government pursuant to the Compact and Program Implementation Agreement.
In overseeing its MCA and implementing the Compact projects, the MCA-M:
- Serves as the central point of contact for MCC, other donors, contractors, consultants and country citizens;
- Establishes financial and reporting systems and manages procurements;
- Drafts and executes, with MCC’s assistance, work plans for Compact projects;
- Creates a website for posting project status, news and procurements; and
- Develops a unique logo to identify projects as both MCA and as a grant from American people.
Rail Project
Khan-Uul district XI, Orgil complex,
Academy of Management development III building,
Ulaanbaatar - 210136
Mongolia
Tel: (976)-70116900
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