Abundance of resources offers potential
Mongolia is more than four times the size of Germany, but has a population of only 3.1 million. Mining is very important for the country, due to its abundance of raw materials. The industrial sector represents about 44% of GDP, the bulk of which is accounted for by the mining industry. Coal, copper and gold are mined in the interior of the country, which is marked by extreme seasonal temperature fluctuations. It is said that 30,000 Mongolians speak German, about 1% of the total population. While the former East Germany was a valued partner country of Mongolia until the collapse of the Soviet Union, the reunified country of Germany assumed this role starting in the early 1990s. Since 1992 KfW has been active in Mongolia as part of Financial Cooperation on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
KfW Office Ulan Bator
Director KfW Office: Michael Sumser-Hellstern
Seoul Street 21, 5th floor
Naiman Zovkhis Building
14251 Ulan Bator
Fax: +976-11-315 950