Minister of Finance to represent Government to CAREC

Ulaanbaatar /MONTSAME/ The Minister of Finance J.Erdenebat was officially appointed on Monday by the Cabinet to work on behalf of the Government of Mongolia to the CAREC (Central Asian Regional Economic Cooperation). The CAREC is operated by the member state ministers in charge of financial affairs. Mongolia was represented to the organization in 2012-2014 by the former Minister of Economic Development. The CAREC was established in 1997 with the support of the Asian Development Bank (ADB). Mongolia joined this organization in 2002. The regional cooperation aims to promote the economic integration and economic growth and reduce poverty in the region, and aspires to realize regional projects according to the needs of the countries of the region in road and transport, trade, and energy spheres.