IIB signed a loan agreement with Mongolian Capital Bank
Today, at its headquarters, the International Investment Bank concluded a loan agreement with the Capital Bank (Mongolia). The facility, in the amount of EUR 5 million and tenor of 4 years, will be directed for development of small and medium-sized enterprises in Mongolia.
The Banks continued their cooperation, which started in October 2013, when they signed the first loan agreement, aimed at support of SME sector as well.
The loan has become the eighth one, disbursed by the IIB in Mongolia over the last three years, and total amount of the Bank’s investments in economy of this member state exceeds EUR 70 million.
The signed LA falls in line with IIB’s plans on further expanding its operations in its Asian countries, focused on support of small and medium-sized businesses.
Capital Bank is one of the first commercial banks, established in Mongolia. It started its operations in 1990. Capital Bank is ranked seventh among Mongolian credit institutions in terms of assets, loan portfolio volume and amount of attracted deposits. Since 2005, the bank has successfully participated in 27 projects and programs for support of SMEs together with local and international organisations.