For Immediate Release
September 9, 2022
Mongolia to Receive $2 Million as part of New Commitments from the United States to Respond to the Global Food Crisis
Mongolia is one of 47 countries and regional organizations receiving funding to save lives through emergency interventions and mitigate further increases in poverty, hunger, and malnutrition as a result of rising prices of food, fertilizer, and fuel.
As part of the recently announced $2.76 billion in U.S. government funding to address the global food crisis, the United States Agency for International Development (USAID) will provide new resources to Mongolia to protect vulnerable populations from the escalating crisis exacerbated by Russia’s invasion of Ukraine. Like many other countries in the region, Mongolia imports a significant amount of wheat, sunflower oil, fertilizer, and other products from Ukraine.
Under this initiative, USAID will provide an additional $2 million through its existing small and medium enterprise development program in Mongolia, Business Excellence for Sustainability and Transparency (BEST). These funds will support companies in the agribusiness sector to address shortages of key inputs by building up capacity to produce these items locally. Activities will lead to expanded agribusinesses and greater food security through stronger financial management, clear bankable investments, and greater access to finance.
“As a third neighbor of Mongolia, the United States, through USAID, is pleased to support efforts to develop the country’s agricultural capacity and resiliency, while strengthening food security, ”stated Deputy Mission Director Betty Chung. “This additional funding builds on the growing USAID portfolio in Mongolia, including activities to strengthen democratic institutions, diversify the economy, modernize the energy sector, and assist in the COVID-19 pandemic response.”
President Joe Biden pledged $2.76 billion in additional U.S. government food security resources during the G7 Leaders’ Summit in Germany, which represents more than half of the over $4.5 billion in additional resources that G7 leaders committed to addressing global food security at the Summit. Funds pledged will bring the United States’ total investment to address the global food security crisis to $7.6 billion since the start of Russia’s unprovoked war against Ukraine on February 24, 2022.