Macroeconomic development in the country
The World Bank projected that Mongolia's economic growth would increase by 3.5% in 2021. In its latest forecast, however
however, it lowered this to 1.1%. This is because the rising inflation rate is putting the country's economy under considerable pressure, in addition to the risks of new variants of COVID-19 and foreign debt. Mongolia's economy is forecast to grow by 2.1% in 2022 and 6.2% in 2023. At the end of last year, Mongolia's population numbered 3.4 million, up 1.6% from 2020. The official national poverty rate was 27.8% in 2020, down 0.6 percentage points from 2018. The pandemic has greatly slowed the pace of poverty reduction.
The vaccination coverage rate for the first dose against COVID-19 is 69.7%, for the second dose 66.7%, and for the third dose 30.0% of the total population.
To reduce air pollution in Ulaanbaatar, the European Union is implementing the "Switch Off Air Pollution" project with funding of 2.1 million euros. It aims to reduce heat loss in houses in the yurt areas.
to be reduced. This will reduce carbon dioxide emissions by 3,000 tons.
BPN activities on site
BPN added new businesses to the program such as the manufacture of shoes, windows, children's clothing and an eye clinic. We also held 111 coaching calls for the first time. We held the workshops, seminars and webinars online from Switzerland or physically on site. 394 satisfied entrepreneurs took part.
Unfortunately, employees fell ill with Covid-19 and strict lockdowns relegated them to the home office. The Country Director ran the program out of Switzerland due to travel restrictions.
Further, BPN was able to conclude cooperation with Khan Bank and transfer loans with preferential interest rates to BPN companies.
