Developing partner relations with Golomt bank (Mongolia)

With reference to the Master Financing Agreement concluded between International Bank for Economic Co-operation (IBEC) and Golomt Bank (Mongolia) in 2018, IBEC has extended a one-year trade related loan to the Mongolian counterparty in the amount exceeding EUR 500 thousand in the equivalent. The money will be used for financing Mongolian import of South Korean FMCG and nonfood goods. The transaction continues the series of IBEC interbank deals for Mongolian companies’ foreign trade support.

Golomt Bank - founded in 1995, is one of the systemically important and leading private banks in Mongolia. Golomt Bank operates with a well-balanced presence in all three market segments: Corporate, SME, and Retail. Golomt Bank serves nearly 80% of the corporate market and leading the local SME development initiatives. Recently, the Bank has become an active member of United Nations Environmental Program – Financial Institution group (UNEP FI) to advocate more environmentally and sustainably conscious strategies into daily operations and strategies.