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Development Bank and Export Development project established cooperation memorandum www.montsame.mn
Ulaanbaatar /MONTSAME/ The Export Development Project aimed to help small- and medium-sized enterprises in non-minerals sectors strengthen their export capabilities and boost their access to export markets has being implemented since this March. A cooperation memorandum between the Project implementing unit and the Development Bank of Mongolia was signed on September 18.
The parties agreed to collaborate in improving foreign trade knowledge of non-mineral sector companies and small and medium enterprises, making promotion and distribution of required information to businessmen, who intend to get financial support. Moreover they will cooperate in helping SME and companies to enter to new export market, to produce and develop export oriented products.
The project is funded with a USD20 million credit from the International Development Association, the World Bank’s fund for the poorest. Through the project, existing and future SME exporters in Mongolia’s non-minerals sector will have broader and easier access to export credit insurance, learn practical knowhow, and receive financial support up to USD100 thousand to improve their export quality and competitiveness.
The project will be implemented by the Government of Mongolia in the next 4.5 years.
Published Date:2017-09-19
