Mongolia To Receive ADB Funding
14 November 2006 The Asian Development Bank (ADB) will help Mongolia tap agricultural export markets with the provision of a US $1 million technical assistance grant, according to an ADP release.
ADB noted that Mongolia’s products could be attractive to international markets as "boutique" type niche products due to their traditional farming practices and nomadic lifestyles.
"Investment will be necessary to fund processing facilities, management, and raw material supply before agricultural enterprises can meet the quality and reliability standards expected by international markets," explained Mandar Jayawant, ADB Senior Country Economist.
The grant will help eight to 10 private agricultural firms with a team of experts to identify supply-chain partners, create investment plans, and provide financing for investment plans.
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