ULAANBAATAR, June 8, 2016 – World Bank Regional Vice President for East Asia and Pacific Victoria Kwakwa will visit Mongolia from June 9-10 and participate in the Finance Ministers’ Meeting under the Asia-Europe Meeting (ASEM).
During Kwakwa’s visit, her first since taking office in April, she will meet with government officials. At the ASEM Finance Ministers’ Meeting, she will serve as a lead discussant for a session titled Ensuring Financial Stability at Regional and Global Level: Experiences from Asia and Europe.
“I am delighted to visit Mongolia at this important moment when the country is hosting the ASEM Finance Ministers’ Meeting. Global integration brings both benefits and risks, and the topic of financial stability is very timely,” said Ms. Kwakwa. Noting that financial sector development has been a long-standing area of partnership in the quarter century since Mongolia joined the World Bank, Kwakwa highlighted the enduring partnership.
“From the advent of the two-tier banking system to the reforms following the global financial crisis to present efforts to develop the capital markets and strengthen stability, we have supported Mongolia’s aspirations.”
During her visit, Ms. Kwakwa will also visit beneficiaries of projects supported by the World Bank Group over the years, including those that focus on rural development, education, and financial services development. These include the Sustainable Livelihood Project, Rural Education and Development, Education Quality Reform Project and the Index Based Livestock Insurance Projects.
Ms. Kwakwa will be accompanied by Mr. Bert Hofman, the World Bank’s Country Director for China, Mongolia and Korea, and Mr. James Anderson, Country Manager for Mongolia.