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Additional funding agreement concluded www.montsame.mn
Ulaanbaatar/MONTSAME/ An agreement on provision of the additional funding was established between the Development Bank of Mongolia (DBM) and International Investment Bank (IIB) within a scope of the 21st Meeting of Mongolia-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, held on February 28 in Russia.
The document was signed by First Deputy CEO of the DBM, Ch. Enkhbat, and the head of the IIB delegation, Deputy Chairman of the Board, Vladimir Liventsev.
According to the agreement, the IIB lends EUR 30 million for a period of up to seven years to implement socially and economically significant projects in Mongolia.
Following the meeting, members of the intergovernmental commission expressed their satisfaction with the results of the IIB’s project activities in Mongolia and parties welcomed the signing of a loan agreement between two development banks.
The IIB consistently increases lending and investment activities in Mongolia. Since 2012, the total volume of the Bank's investment in the Mongolian economy has amounted to over USD 650 million.
M.Unurzul
Published Date:2018-03-05
