EBRD provides $7 million sovereign loan for food-protection measures in Mongolia

AKIPRESS.COM - More than 15,000 people will directly benefit from sustainable infrastructure designed to protect them from seasonal flooding, thanks to a loan provided by the European Bank for Reconstruction and Development (EBRD) to Erdenet, Mongolia's second-largest municipality. A sovereign loan of up to US$ 7 million will help the northern Mongolian town, located in the valley between the Selenga and Orkhon rivers, implement modern flood-protection measures and improve its water supply system.
It will help address the consequences of decades of underinvestment in the municipal water networks. This will improve the resilience of Erdenet's water infrastructure to climate change and address public health challenges.
The investment is aiming to increase by 3,200 the number of households connected to the central water supply and to reduce the volume of annual water losses by 15 per cent or 0.8 million cubic metres.
The coronavirus pandemic has demonstrated the critical importance of the highest hygiene and sanitation standards, and water supply and treatment are among most serious longstanding challenges that the country is facsing.
In Mongolia the EBRD works to help build a diverse economy by developing the private sector and supporting infrastructure improvements. The Bank has invested more than €1.7 billion in 104 projects in the country since it started operations there in 2006.