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IBEC is increasing support for the economic ties of its member countries

On March 27, 2019 International Bank for Economic Co-operation conducted 2 trade finance transactions aimed at support of foreign trade between IBEC’s member states for the total amount of USD 0,4 million and all-in tenor of 1 year./p>

Namely, based on Master Financing Agreement between IBEC and GOLOMT BANK OF MONGOLIA, IBEC provided trade related loans for support of Polish and Russian export of food products to Mongolia for the USD 0,14 million and USD 0,3 million accordingly.

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.