Ulaanbaatar
Mongolia and Germany Agree to Convert Debt into Public Health Investments
Politics
Ulaanbaatar, December 10, 2024 /MONTSAME/. The Government of Mongolia, through the Ministry of Finance, and the Federal Republic of Germany, through KfW Development Bank agreed to convert EUR 29 million of Mongolia’s debt into public health investments.
The conversion agreement was signed on December 9, 2024, by Minister
of Finance of Mongolia Javkhlan Bold, Director of KfW Development Bank Frank
Bohnet, KfW Development Bank General Portfolio Manager Andrey Godon, and Executive
Director of the Global Fund Peter Sands.
With the new funds, Mongolia will enhance access to tuberculosis care,
improve case detection and treatment, and expand HIV services for key and
vulnerable populations. The country will also use the investment to transition
to a more integrated and efficient health system.
The agreement was signed under the Global Fund’s Debt2Health initiative, an innovative financing mechanism designed to encourage domestic financing for health by converting debt repayments into lifesaving investments in public health programs.
