World Bank grants US $8 million fund to Mongolia

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The World Bank is funding to Mongolia to upgrade information and communications services across the country with the help from Japan.

The World Bank announced that more than 85 slums in the country would have access to mobile telephones and online services, and the figure will rise to 300 in two years. The World Bank has granted US $8 million non-repayable loan, while Japan has given US$ 2 million. Mongolia is expected to contribute US$ 1.85 million. The project aims at putting in place a regime that would promote fair competition among service providers and build up a capable ICT policy leadership in Mongolia.

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