The Asian Development Bank (ADB) has approved a $100 million loan to the Government of Mongolia to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic.
COVID-19 is triggering a severe economic slowdown in Mongolia. The current turmoil in the global economy and commodity markets has reduced revenues, increased balance of payment pressures, and accentuated financial sector risks. Women and small businesses are particularly vulnerable.