The U.S. has committed an aid package worth USD285 million to Mongolia for the country’s efforts in instituting democratic reforms. Under the Millennium Challenge Account initiative, Mongolia became the fifteenth country to receive aid, in exchange for the country’s continued commitment in carrying out economic reforms and improving human rights. “The Millennium Challenge compact encourages countries to make a firm commitment to basic principles ? principles that mean the government will listen to their people and respond to the needs of the people,” U.S. President George W. Bush said in a ceremony attended by Mongolian President Nambaryn Enkhbayar. “And today, Mr. President, we honor the success of your country and the commitment of your government to basic principles,” he added. Majority of the aid is to be allocated to the development of Mongolia’s railroad system, along with improvements in health and education.
Source: U.S. gives Mongolia USD285 million in aid (USA Today)