Financed by China Eximbank, the highway project in Mongolia’s Zavkhan Province was recently handed over to the Mongolian government. Mongolian Prime Minister Oyun-Erdene and Economic and Commercial Counselor of Chinese Embassy to Mongolia attended and addressed the opening ceremony of the project. Prime Minister Oyun-Erdene noted that the completion of the highway is a wonderful gift for the Mongolian people, with which full connectivity will be realized between Ulan Bator, Mongolia’s capital, and the country’s 21 provincial capitals.

As an important part of Mongolia’s Millennium Road Project which aims at national road network upgrading and reconstruction, the highway is located at the northwest plateau and mountainous terrain of the country, where unsurfaced roads with poor connectivity could hardly meet safety requirements for daily commuting. The project owner and contractor worked closely despite of the COVID-19 pandemic, overcame difficulties such as poor working conditions and limited construction period, and completed the project with high quality. By shortening the travel time from 3 hours to 30 minutes, the project has improved local traffic efficiency, reduced transport costs and raised people’s living standards, thus contributing to the infrastructure development of Mongolia’s remote provinces and the economic growth of neighboring regions.  

China-Mongolia relations have witnessed steady development in recent years. The completion of the highway, thanks to which a comprehensive road network connecting Mongolia’s provincial capitals has been realized, is another example of amity and good-neighborliness between the two countries. China Eximbank highly values the cooperation with Mongolia, and has provided financial support to a number of projects in agriculture, education, urban transport, telecommunication, infrastructure and other sectors, generating significant economic and social benefits. In the coming years, the Bank will continue to fulfill its commitment and contribute still more to the comprehensive strategic partnership between China and Mongolia.