Mongolia - Completion and Learning Review for the Country Partnership Framework (IEG Review) - Independent Evaluation Group

Jul 19, 2026

Independent Evaluation Group Completion and Learning Review assesses implementation of the World Bank Group FY13–FY17 Mongolia Country Partnership Strategy, updated through subsequent performance and learning revisions, and covering WBG activities from July 1, 2012 to December 31, 2020. The review weighs development outcomes, WBG performance, and strategic relevance against Mongolia’s macroeconomic volatility, commodity dependence, governance-demand challenges, and external shocks amplified by policy reversals and COVID-19. Ratings reported include Moderately Satisfactory development outcome and WBG performance.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages50

Reading Time2 h 6 min

Executive Summary

Implementation scope and strategy updates

Mongolia’s macroeconomic context and shocks

Strategic Focus

Relevance of the WBG Strategy

Public Disclosure Authorized Public Disclosure Authorized For Official Use Only CLR Review Independent Evaluation Group | 1. CAS/CPS Data | | | | | --- | --- | --- | --- | | Country: Mongolia | | | | | CPS Year: FY2012 | | CPS Period: FY2013 – FY2021, H1 | | | CLR Period: FY2013 – FY2021, H1 | | Date of this review: May 13, 2021 | | | 2. Ratings | | | | | | CLR Rating | | IEG Rating | | Development Outcome: | Moderately Satisfactory | | Moderately Satisfactory | | WBG Performance: | Good | | Good | | | | | | | 3. Executive Summary | | | | | i. This review examines the implementation of the FY13-FY17 Mongolia Country Partnership Strategy (CPS), which was endorsed by the World Bank Group (WBG)’s Board of Executive Directors in April 2012, updated in the Performance and Learning Review (PLR) of December 2016 (which extended the CPS by six months) and further revised in the PLR of November 2019 . At that time, the CPS period was extended retroactively by three years until December 31, 2020. The decision to agree to an extended delay with the preparation of the new Country Partnership Framework (CPF) was motivated by two factors that were anticipated to have a serious impact on the design of the next program. First, Mongolia’s graduation from IDA was expected to happen atthe end of FY20 . Second, Mongolia’s parliamentary elections were scheduled for June 2020, and it was thought that the new CPF timetable would facilitate its alignment with the priorities of the newly elected government. This review covers WBG activities since July 1, 2012 through December 31, 2020. 1<br>ii. Mongolia is a lower middle-income country with a GNI per capita (2019, Atlas method, current US$) of US$3,790 . Mongolia is a blend Bank borrower. As a mineral resource-based economy, the country’s GDP growth and its balance of payments have been vulnerable to commodity price fluctuations . External shocks have been further aggravated by frequent government changes and related policy reversals. Atthe start of the CPS period, Mongolia was oneof the fastest growing economies in the world. However, because of the decline in commodity prices and weak macroeconomic management, the economy went through a crisis in 2014-16. Growth slowed from 11.6 percent in 2013 to 1.2 percent in 2016. A subsequent recovery in export prices and FDI, supported by more disciplined government policies led to growth revival (to about six percent on average during 2017-19) . In 2020, because of the COVID-19 pandemic, Mongolia’s GDP contracted by about five percent. The Bank expects Mongolia’s post-COVID recovery to be solid with growth reaching 4.3 percent in 2021, driven by an economic turnaround in China, which is the major market for Mongolia’s commodity exports. However, the recovery is subject to<br>0 F | | | | 1 The Completion and Learning Review (CLR, p. 2) refers to April 2012 asthe beginning of the period under the review, which is a typo. In several other places the CLR correctly pointed to the FY13 asthe start of the program period. 2 The World Bank. 2021. Mongolia Economic Update. February, p. viii. 3 In FY18 Mongolia received an additional IDA allocation ofSDR58 million under the Crisis Response Window to provide emergency support to mitigate the adverse effects of the commodity price shock. In FY20 Mongolia received a special IDA graduate allocation ofSDR 37 million. Overall, IDA allocations over the period FY17-20 were more than twice as high relative to the previous four years, FY13-16. Mongolia graduated from IDA atthe end ofFY20 but still has access to some exceptional IDA support in response to the COVID-19 crisis as approved by theIDA Board. | the earlier Mongolia Country Program Evaluation (CPE) by IEG, which emphasized the importance of building the demand (not just capacity) for good governance.<br>xi. IEG adds the following lesson:<br>• It is important to ensure that both program objectives and results framework are prope

FAQs

What period and scope does the review cover?

The review covers WBG activities from July 1, 2012 through December 31, 2020, focusing on implementation of the FY13–FY17 Mongolia Country Partnership Strategy and related updates.

What major factors influenced the extension and timing of the next program?

The review notes two key motivations: Mongolia’s expected IDA graduation by end of FY20 and the scheduling of parliamentary elections in June 2020, intended to align the new Country Partnership Framework with the priorities of the newly elected government.

How did Mongolia’s economy perform during the CPS period, according to the review?

Growth slowed sharply during 2014–2016 amid declining commodity prices and weak macroeconomic management, then recovered during 2017–2019, and contracted around 5% in 2020 due to COVID-19.

Jul 19, 2026

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