The International Investment Bank (IIB) is continuing to provide sustained support for the financial markets of its member states by participating in the new placement of Mongolian international sovereign bonds denominated in US dollars alongside with large international investment companies.

This placement was of particular importance to the Mongolian government as it was underpinned by the need to refinance the debt burden of the strategically important Development Bank of Mongolia by the government.

The new bond placement created an increased interest among the world's leading investors such as Goldman Sachs, Aberdeen Asset Management, BlueBay Asset Management, Pioneer Investments, etc. The total volume of the order book exceeded USD 3.5 billion, and it was oversubscribed by up to 30 times more than the original offer.

“By implementing its mission of a multilateral development institution, the IIB provides assistance in financing and sustainable functioning of the capital markets of its member states. In this respect, the Bank supported Mongolia during a period of radical economic reforms and in a complex financial and economic situation, participating in the new placement of sovereign bonds," - said Deputy Chairman of the IIB Board Josef Kollar.

The IIB’s Treasury is consistently expanding its activities in Mongolia. During the last few years, the turnover of its depositary investments to banking institutions in Mongolia was approximately USD 500 million, and the total volume of transactions with Mongolian securities exceeded USD 50 million. The Treasury plans to further develop this particular area of its business.