[Ulaanbaatar, December 15, 2022] – A regular meeting of the Board of Directors of MCA-Mongolia was held on December 15, 2022, at the Ministry of Finance of Mongolia.

As the Minister of Finance was appointed as the Chairman of the Board of Directors by the Government Resolution No 355, dated September 2022, the meeting was chaired by a Member of the Parliament of Mongolia, Minister of Finance B. Javhlan, and attended by members of the Board of Directors, including MCC Resident Country Director Tina Yu and MCA-Mongolia Interim Chief Executive Officer D.Enkhjargal and other relevant directors of MCA-Mongolia.

At the meeting, the Board discussed and approved the renewal of the term of office for Private Sector Members of the MCA-Mongolia Board of Directors, the Follow-up Action Plan for the independent Auditor’s report on the Fund Accountability Statement of the MCA-Mongolia and the 2023 Internal Audit Plan respectively.

The results of the Study on the Program Management Systems and Tools, the Study Report on Compliance Function within MCA-Mongolia and Its Implementation and the Risk Management Report of MCA-Mongolia was presented to the Board.

MCA-Mongolia Board of Directors, chaired by the  Minister of Finance, is comprised of nine voting members, including state secretaries of relevant line ministries and representatives from the private sector and civil society, as well as MCA-Mongolia Chief Executive Officer and MCC Resident Country Director as non-voting members.

Regular meeting of the Board of Directors is held on a quarterly basis. As of December 2022, the Board has met 19 times, both on a regular and irregular basis, and discussed and resolved issues concerning Program implementation and MCA Mongolia operations.

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This $462 million project is a partnership between the American and Mongolian people made possible by $350m in MCC grant funding and the $111.76m contribution from the Government of Mongolia which demonstrates their commitment to working together to achieve economic growth and poverty reduction in Ulaanbaatar. The Mongolia Water Compact is funding major infrastructure projects, including the construction of new wellfields and two large plants - an Advanced Water Purification Plant and Wastewater Recycling Plant which will be the first of their kind in Mongolia. In addition, the Compact will invest in policy measures to create a financially and environmentally sustainable future for the water sector of Ulaanbaatar. By 2026, the water system in Ulaanbaatar will have been expanded to deliver 80% more drinking water, allowing for the city’s future expansion.