A Digital Economy for Mongolia
Mongolia is a country in East Asia that borders China and Russia. As the country continues to progress, the public has an increased desire for information and communication technologies that must be met. Known as the world’s most heavily populated country, technologies are needed, especially in Mongolian rural areas, in order to improve education. Fortunately, on June 6, 2022, Mongolia made a significant effort to address its technological challenges by accepting International Development Association (IDA) credit with the intention of creating a more digital economy for Mongolia.
The World Bank Board of Executive Directors approved a $40.7 million International Development Association (IDA) credit in order to help Mongolia increase digital skills and training as well as improve online public services. This will help make technology more common in Mongolia. According to Andrei Mikhnev, World Bank Country Manager for Mongolia, the Mongolian youth will develop more skills this way and become more familiar with the technology. It will improve their knowledge and help them become eligible for a wider range of jobs. In addition to this, women, people with disabilities and people living in rural areas will be able to access basic digital services, explained Mikhnev.
Mongolia is preparing to build a strong digital economy. This includes more Mongolians having better access to the internet. According to World Bank, as of 2020, 63% of Mongolians use the internet.
A more digital economy ties into a better economy, with access to internet services, faster productivity for businesses and the opportunity for online education. This project aims to assist in the development of a more digital economy for Mongolia as well as to provide new opportunities for Mongolia’s development.
According to the World Bank, the project will help 13,000 civilians improve their digital skills. In addition to this, it will “create 3,000 new digital jobs for youth and women and help digitalize 2,000 small and medium-sized enterprises (SMEs) to improve their competitiveness and resilience in the global economy.”
More Digital Economy for Mongolia
A more digital economy for Mongolia means a better way of life. A better digital economy could bring more online educational opportunities. It is essential that homes have electricity and internet in order for Mongolians to proceed with education at home. However, as of 2020, 18.4% of Mongolian homes had limited access to energy.
Having a broader range of educational opportunities could help create more jobs and increase the possibility of income. In addition, according to World Bank, this “will assist the government in adopting an integrated, whole-of-government approach for its online public services and digital investments.”
The effect that the Mongolian economy has on Mongolians has led to protests, with the youth arguing that parliament does not do its job in ensuring that the economy is suitable for a comfortable life. According to Jacobin, “Mongolians’ anger at the state stems from an overwhelming sense that politicians live in their own bubbles, isolated from the lives of ordinary people.”
Mongolia’s plan stands as an indicator of the progression of a digital-savvy economy. According to the Mongolia Sustainable Development Vision 2030, Mongolia’s goal is to provide internet coverage to 70% of the population by 2020, 90% of the population by 2025 and 95% of the population by 2030. Mongolia’s progress could help create a more digital economy, helping its inhabitants live an easier lifestyle.
– Frema Mensah