News by country: Mongolia

SME support, joint projects and current IIB agenda discussed during meetings in Mongolia

SME support, joint projects and current IIB agenda discussed during meetings in Mongolia

On November 17-18, 2016, the delegation of the International Investment Bank (IIB), led by Deputy Chairman of the IIB Board, Vladimir Liventsev, visited Mongolia – one of the Bank’s Asian shareholders. The mission included meetings with Mongolia’s Minister of Finance Choijilsuren Battogtokh, top executives of Mongolbank and the Development Bank of Mongolia as well as representatives of the EBRD and the IFC, IIB’s co-financing partners in the country. The talks focused on different scenarios of…  Read more
IIB is expanding geography of its trade finance operations

IIB is expanding geography of its trade finance operations

In the 4th quarter, the International Investment Bank (IIB), in line with its mandate, continued to grow its trade finance portfolio and expand the geography of supported trade finance transactions. Thus, for the first time, the Bank has covered the risk of Mongolia’s Golomt Bank towards Československá obchodní banka, a.s. (ČSOB, Czech Republic), supporting delivery of automatic flour packaging line from the Czech Republic to another IIB member state, Mongolia. Reflecting its unique membe…  Read more
At the 15th Asia-Europe Business Forum in Mongolia IIB assessed IFIs’ capacity to deal with economic crisis

At the 15th Asia-Europe Business Forum in Mongolia IIB assessed IFIs’ capacity to deal with economic crisis

The delegation of the International Investment Bank (IIB), headed by Jozef Kollar, Deputy Chairman of the Board, participated in the 15th Asia-Europe Business Forum (AEBF15) focused on “Connectivity for Inclusive Growth” that took place in Mongolia’s capital, Ulaanbaatar, on July 13-14, 2016. During the 2-day event, participants discussed current issues of cooperation on the Eurasian continent, including prospects of the world economy and international investment activity, consequences of the…  Read more
IIB joins IFC and FMO in supporting Mongolian SMEs

IIB joins IFC and FMO in supporting Mongolian SMEs

The International Investment Bank (IIB) has joined the International Finance Corporation (IFC) and the Netherlands Development Finance Company (FMO), which have organised a syndicated USD 125.5 million facility for Mongolia’s XacBank, one of the leading lenders to micro and small businesses in the country. Along with other financial institutions, they will support the development of XacBank’s loan operations, including lending to SMEs. IIB’s share in the loan with a maturity of up to 3 years…  Read more
Mongolia’s contribution to IIB’s authorised capital concludes the “Year of Asia” at the Bank

Mongolia’s contribution to IIB’s authorised capital concludes the “Year of Asia” at the Bank

As another step that brings the International Investment Bank closer to the completion of its capitalisation programme, adopted by IIB’s member states in June 2013, on December 28 Mongolia contributed EUR 435 000 to the Bank’s authorised capital. Thus, the IIB’s paid-in capital has already increased by EUR 138 million in total. Mongolia’s contribution reflects its share in the Bank’s capital at the time when the decision on additional capital was adopted and increases it correspondingly to…  Read more