Development Finance Assessment for Mongolia

In the context of challenging economic, social and environmental conditions and a changing development finance landscape worldwide, the Government of Mongolia is using its INFF process to explore new opportunities for mobilising and managing domestic, external, as well as public and private resources, to finance its development plans and aspirations.

This development finance assessment (DFA) provides an analytical baseline for the INFF process, including:

• An overview of the trends and composition of financial flows
• An assessment of how the public sector links both public and private finance with SDG outcomes
• An assessment of the roles and responsibilities of national institutions in managing or influencing financial flows to contribute to the national development plan and SDGs.

Complementary governance reforms are crucial for effectively managing existing resources and mobilizing additional finance for development.  The report demonstrates how reforms could address the current shortcomings in public sector planning, budgeting, monitoring and management.

To achieve its development targets, the report recommends that the Government of Mongolia develop sector-specific development strategies to proactively mobilize the resources and technical knowledge of non-state actors. This will only be achieved by supporting a transparent and open dialogue between the government, parliament, the private sector and NGOs. The DFA is one step in this direction and its findings present an ambitious agenda for moving toward a more integrated approach to managing development finance in Mongolia.

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