ADB finances modernisation of vegetable production, irrigation in Mongolia
The Asian Development Bank has approved $40 million in loans to support the modernization of government-owned irrigation networks and vegetable production in Mongolia.
The project will upgrade, modernize, and climate-proof 12 selected schemes along with directly associated infrastructure to provide irrigation services for 7,000 hectares of land. A total of 3,458 households are expected to benefit, including 1,041 poor households.
The total cost of the project is $46.25 million, of which ADB is providing a concessional loan of $25.3 million and a regular loan of $14.7 million. The government will provide $4.25 million towards the project cost.
ADB will administer a $2 million cofinancing grant from the Japan Fund for Poverty Reduction, which has supported projects in Mongolia in poverty alleviation, improving livelihoods, and safeguarding the environment over the past 20 years.
