On September 28, the BEST program, funded by the United States Agency for International Development (USAID), successfully organized a forum titled “Exploring New Financing Avenues for Agriculture.” The forum involved stakeholders from the agriculture sector in discussions regarding financing models and innovative tools aimed at facilitating the sustainable development of Mongolia's agricultural sector, while also proposing viable solutions.

 

United States Ambassador to Mongolia, Richard Buangan, delivered opening remarks along with Gankhuleg M., Deputy Minister of Food, Agriculture and Light Industry (MOFALI), and Amar L., Executive Director of Mongolian Bankers Association.

 

Representatives from the USAID-funded BEST program, the Ministry of Food, Agriculture, and Light Industry, Banking and Finance Academy, Khan Bank, and TESO Foods LLC shared information, delivered speeches, and engaged in a discussion on the topic of “Financing Strategy for Agriculture Sector.” This discussion encompassed the financial landscape, challenges, best practices, and innovative financing tools for Mongolia's agricultural sector. About 200 representatives of the agricultural sector stakeholders participated in the forum in person, and about 2,400 local representatives joined online.

 

The U.S. government has been working with our Mongolian counterparts through a myriad of activities to promote sustainable and resilient economic growth and food security. The activities organized by the BEST program make an important contribution to food security and the development of the agricultural sector in Mongolia.