IIB assists partner financial institutions in professional training
For the first time, International Investment Bank (IIB) awarded a diploma for successful completion of an advanced training course under the Trade Finance Support Programme (TFSP) to a representative of Bogd Bank LLC.
The purpose of the Trade Finance Specialist Training Programme is to provide IIB’s assistance to banks of member states in creating and launching new trade finance products and programmes for SMEs on the market. The specialist training programme allows participants not only to acquire general knowledge about IIB’s main products, but also to gain important practical skills in executing transactions associated with legislation and banking practices on trade finance for specific member states.
“For multilateral development institutions, it is important to develop trade finance and support not only large, but also small and medium-sized businesses, using trade finance as a highly effective and mobile tool in implementing short-term deals. For Mongolian banks, which have only started building this area, the support of IIB on this issue is extremely important”, said Mr. D. Molomjamts, Senior Advisor to the Board.
TFSP is an effective tool for supporting mutual trade between IIB member states and their operations with third countries. For further details about this Programme, click on the following link: https://iib.int/ru/products/tfsp
International Investment Bank (IIB) was established in 1970. The Bank’s shareholder countries currently include Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Russia, Romania, Slovakia and the Czech Republic. Based on the Bank’s successful performance in 2017, S&P Global ratings assigned IIB a BBB+ rating, with a stable outlook, while Moody’s assigned the Bank an A3 rating, with a stable outlook, Fitch assigned a BBB rating, with a positive outlook, and Dagong assigned an A rating, with a positive outlook.
Bogd Bank LLC is a commercial bank that operates in Mongolia. Moody’s assigned the bank an international rating of B2.