EBRD investments in Mongolia’s mining sector
Publisher: CEE Bankwatch Network
Volume: 5 pages, pdf
Description:
With a poverty rate hovering just under 40 per cent, Mongolia is seeking to leverage its vast mineral wealth to stimulate economic growth. The plan has been generally successful, with Mongolian GDP growning nearly 17 per cent between 2010 and 2011, a third of which is based on revenues from extractive industries and mining. International mining companies and financial institutions, like the European Bank for Reconstruction and Development and the International Finance Corporation, want to help transform Mongolia into a modern mining nation, and to realise this plan they are banking on the vast coal, copper and gold deposits in the Gobi desert.