Mongolia has become a donor to the World Bank Group’s International Development Association (IDA), following parliamentary approval of a contribution of 4.8 billion Mongolian tugriks, equivalent to approximately $1.3 million.
The World Bank Group announced this in a statement dated October 17, 2026, in Bangkok, Thailand, describing the move as a milestone in Mongolia’s development journey.
The contribution will support IDA’s 21st replenishment, known as IDA21, through which the World Bank provides grants and concessional financing to low-income countries facing development challenges.
Mongolia’s decision marks a shift from being a recipient of development assistance to contributing to financing for other countries, having benefited from the World Bank’s support for more than three decades.
Since joining the World Bank Group in 1991, Mongolia has received more than $1.62 billion in development financing, including IDA assistance for transport, rural development, healthcare and education.
In July 2020, the country graduated from IDA and became an International Bank for Reconstruction and Development-only client.
The World Bank said Mongolia had made significant economic and social progress over the past three decades, reducing poverty and tripling its per-capita gross domestic product.
The country attained upper-middle-income status in 2024.
Mongolia’s Finance Minister, Mendsaikhan Zagdjav, said the contribution reflected the country’s commitment to international solidarity and its longstanding partnership with the World Bank Group.
“Mongolia’s contribution to IDA21 marks an important milestone in our longstanding partnership with the World Bank and reflects our commitment to international solidarity,” he said.
Mr Zagdjav said Mongolia’s experience as a beneficiary of IDA financing had demonstrated the importance of concessional funding in helping countries reduce poverty, strengthen resilience and expand economic opportunities.
“Having benefited firsthand from IDA’s support, we recognize the vital role of concessional financing in helping countries reduce poverty, build resilience, and expand opportunities,” he said.
He added that Mongolia was proud to support other countries in pursuing their development priorities while continuing to advance its own.
Lisa Finneran, the World Bank’s vice-president for partnerships, innovation and mobilisation, welcomed Mongolia’s entry into the IDA donor community.
“Mongolia’s rise shows what development progress can make possible,” she said.
Ms Finneran said the World Bank was delighted to welcome the country as a donor and expressed appreciation for its commitment to helping other countries achieve greater prosperity.
IDA is the World Bank Group’s fund for 78 low-income countries, providing grants and highly concessional financing to support poverty reduction, strengthen resilience and improve living standards.
The association is replenished every three years, with the 21st replenishment concluding in December 2024. IDA21 is currently financing development operations across 78 countries.
The World Bank Group operates in more than 100 countries, providing financing, policy advice and other solutions aimed at reducing poverty, creating jobs, promoting economic growth and addressing global development challenges.