Economic Growth
Development Objective 1 is Increased Opportunities for Inclusive Growth. USAID’s strategic approach to achieve this ambitious economic growth Development Objective will be based on policy implementation as it relates to market driven private sector-led economic growth. During the next and most critical years for Mongolia, USAID will play a catalytic role in helping Mongolia advance the financial sector, implement the policies and strengthen the institutional foundations that will ensure sustainable and equitable economic growth that will benefit all Mongolians. Business Plus Initiative, USAID’s new economic growth mechanism, will be one of the vehicles to achieve USAID/Mongolia’s Development Objective 1. The flagship mechanism, a $20 million, five year contract, will build upon and consolidate previous and current projects. The approach will provide the means to influence the policy and institutional framework in ways that increase investment opportunities, improve trade capacity, and stimulate business growth.
Overall, the economic growth Development Objective, Increased Opportunities for Inclusive Growth will:
- Support GoM in implementing economic policy reform;
- Strengthen the private sector and support increased private sector investment;
- Support enhanced synergies between policy design and implementation, as well as policy implementation and private sector growth; and
- Support consensus building, citizen participation and public private partnerships in economic policy reform and implementation.