Mongolia, Dec. 8 -- The Asian Development Bank (ADB) has approved a $60 million loan to help the Government of Mongolia improve urban mobility in Ulaanbaatar through the construction of a bus rapid transit (BRT) corridor. The project also includes a $500,000 grant from the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP). Driven by Ulaanbaatar's rapid population growth, the number of registered vehicles in the city has risen sharply, causing serious traffic congestion and hampering economic productivity and quality of life. High traffic congestion also affects public transport operations, resulting in very low driving speeds-less than 10 kilometers per hour during the afternoon peak-and increasing emissions from a pr...