IBEC strengthens links with financial institutions of Mongolia

From 27 June to 1 July 2017, the delegation of the International Bank for Economic Co-operation (IBEC) headed by Mr. G. Tserenpurev, Board Member, visited Mongolia and took part in the activities of the second meeting of the Round Table on the issues of development of interbank and bilateral cooperation between the Russian Federation and Mongolia.

The IBEC as an international development bank, 14 banking institutions of Mongolia, the Bank of Russia on the delegation headed by Mr. Alexander Torshin, Deputy Chairman and State Secretary, as well as a number of commercial banks from the Russian Federation took part in the activities of the Round Table organized upon an initiative of the Central Bank of Mongolia.

The matters of developing cooperation in trade finance and making mutual settlements in the currencies of the two countries were discussed at the meeting. The IBEC’s representatives declared the Bank’s readiness to contribute to strengthening of economic relations between the Russian Federation and Mongolia through mutually beneficial cooperation with financial institutions.

As a part of their visit, the IBEC’s representatives held negotiations with the leading banks of Mongolia. During the meetings, agreements on joint participation in syndicated loans and trade finance transactions were reached.