Mongolia is stepping into a new role on the global development stage, becoming a donor to the World Bank Group’s International Development Association (IDA).
The country’s parliament approved a contribution of MNT 4.8 billion—about US$1.3 million—to IDA’s 21st replenishment, transforming Mongolia from a former beneficiary of concessional financing into a supporter of nations still facing deep poverty and economic vulnerability.
Since joining the World Bank Group in 1991, Mongolia has received more than US$1.62 billion in development financing, including support for transport, rural development, health and education.
It graduated from IDA in July 2020 and now works with the World Bank as an International Bank for Reconstruction and Development (IBRD)-only client.
Mongolia’s economic progress has been substantial. Over three decades, the country has reduced poverty, tripled per-capita GDP and reached upper-middle-income status in 2024.
Its contribution reflects a broader evolution—from receiving international support to helping extend it to others.
“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 Finance Minister Mendsaikhan Zagdjav.
“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.”
Lisa Finneran, World Bank Vice President for Partnerships, Innovation and Mobilization, welcomed Mongolia to the donor community, saying its progress demonstrates what development can make possible.
IDA provides grants and highly concessional financing to 78 low-income countries. Replenished every three years, the fund is currently financing projects across those nations under its 21st replenishment, IDA21.
