Mongolia is a vast, sparsely populated country located between the People’s Republic of China (PRC) to the south and the Russian Federation to the north. Its western region suffers from a slow pace of development because of remoteness from the country’s political and economic centers and inadequate transport network.
Since the collapse of the Soviet Union, the Kyrgyz Republic has made significant progress in adopting market-based reforms, with private sector development as the key engine of growth. Nevertheless, growth has occurred largely from natural resource exploitation and remittances-backed private consumption.
The Asian Development Bank (ADB) approved the Road Network Improvement and Maintenance Project II for a loan of $126 million in November 2003 to help the government of Bangladesh achieve economic growth and poverty reduction.