IFC and partners promote modern livestock technologies in Mongolia to boost productivity
IFC, a member of the World Bank Group, in collaboration with FAO, Mercy Corps, and AmCham Mongolia, launched an initiative to promote modern livestock technologies in Mongolia, thereby boosting the sector’s productivity and competitiveness.
The initiative will create a first-of-its-kind platform to bring together beef and dairy business leaders, industry experts, and policymakers, who will share their expertise to bolster the country’s livestock sector.
Livestock has long been a priority sector for Mongolia because of its contribution to inclusive economic growth and export diversification. The adoption of modern technologies will allow herders and farmers to reach much higher yields. Artificial insemination, for example, allows local dairy farms to supply high-quality milk all year round, ensuring constant cash flow through longer contracts with processors. Cattle farms have also used such technology for better breed purposes, increasing meat output by three times.
The World Bank Group has been providing policy advice and technical support to Mongolia to enhance investment policy, restore investor confidence, and build capacity through IFC’s Mongolia Investment Policy and Agriculture Promotion advisory project, since 2014.