President meets WB Vice President

Ulaanbaatar /MONTSAME/ The President of Mongolia Ts.Elbegdorj Thursday received visiting Mr Axel van Trotsenburg, the World Bank Regional vice president for East Asia and Pacific. The latter thanked Mr Elbegdorj for the audience and congratulated him on being re-elected the President. Then the discussed a Mongolia's social and economic situation, a support the WB gives to a long-term development of Mongolia, and ways of augmenting foreign investments. The President said it is important to improve the local authority and to ensure a civil participation in it by way of slackening a centralization , "for it is vital for the state policy and the WB has been steadily supporting it." He also noted that the WB Permanent Representative Office backed trainings which had been run in Ulaanbaatar and in localities for citizens and for preparing instructors on direct democracy and civil participation. Supported by the WB, the 3rd stage of the "Sustainable Livelihood" project has been launched, the President mentioned. "Mongolia will continue an active collaboration with the WB in this project," he added. By the end of 2012, the WB gave Mongolia loans and assistance of some USD 600 million, of which 67 million was a non-refundable aid. In addition, Mongolia received a non-refundable aid of USD 100 million from trust funds of foreign countries through the WB.