Md. Shahidul Haque Shahid, Bangkok, Thailand.
Mongolia has become a donor to the World Bank Group’s International Development Association (IDA), with its parliament approving a contribution of MNT 4.8 billion (approximately US$1.3 million), marking a milestone in the country’s development journey.
Since joining the World Bank Group in 1991, Mongolia has received more than US$1.62 billion in development financing, including IDA support for transport, rural development, health and education. In July 2020, Mongolia graduated from IDA, becoming an International Bank for Reconstruction and Development (IBRD)-only client.
Over the past thirty years, Mongolia has significantly reduced poverty and tripled per-capita GDP, reaching upper-middle-income status in 2024. Mongolia’s decision to contribute to IDA’s 21st replenishment demonstrates its commitment to supporting countries confronting the world’s most pressing development challenges.
“Mongolia’s contribution to IDA21 marks an important milestone in our longstanding partnership with the World Bank and reflects our commitment to international solidarity,” said Mendsaikhan Zagdjav, Minister of Finance of Mongolia. “Having benefited firsthand from IDA’s support, we recognize the vital role of concessional financing in helping countries reduce poverty, build resilience, and expand opportunities. As we continue to advance Mongolia’s own development priorities, we are proud to support other countries in pursuing theirs.”
“Mongolia’s rise shows what development progress can make possible,” said Lisa Finneran, World Bank Vice President for Partnerships, Innovation and Mobilization. “We are delighted to welcome Mongolia to the IDA donor community and grateful for its commitment to helping other countries build a more prosperous future.”
IDA is the World Bank Group’s fund for 78 low-income countries, providing grants and highly concessional financing to reduce poverty, strengthen resilience, and improve lives. IDA is replenished every three years, with the 21st replenishment (IDA21) concluding in December 2024, and currently financing operations across 78 countries
