News by country: Mongolia

International Investment Bank expands its partnership network in Mongolia

International Investment Bank expands its partnership network in Mongolia

The International Investment Bank and the Trade and Development Bank of Mongolia (TDB) concluded an Agreement on strategic cooperation. The Agreement was signed by the Chairman of the Board of the IIB, Nikolay Kosov and Chief Executive Officer of TDB, Balbar Medree. The Extraordinary and Plenipotentiary Ambassador of Mongolia to the Russian Federation H.E. Mr. Shukher Altangerel also participated in the signing ceremony. The agreement…  Read more
International Investment Bank develops ties in Mongolia

International Investment Bank develops ties in Mongolia

International Investment Bank concluded an Agreement on a strategic partnership with Mongolian Khan Bank. It was signed by the CEO of Khan Bank Mr. Norihiko Kato and the IIB Chairman of the Board Mr. Nikolay Kosov during the solemn ceremony. The document stipulates building a long-term mutually beneficial relationship between the banks. According to the agreement the IIB and Khan Bank intend to develop cooperation in the following…  Read more
International Investment Bank to participate in Mongolian Khan Bank Loan Granting

International Investment Bank to participate in Mongolian Khan Bank Loan Granting

On October 22, 2013 Khan Bank of Mongolia and IFC signed an agreement for extending a loan in the amount of USD 111 million. This includes USD 71 million (MNT 121 bn) in syndicated senior debt and USD 40 million (MNT 68 bn) in subordinated debt. The funds will be used for long term funding to Khan Bank’s customers as well as the Bank’s capital base. This facility will be mobilized by IFC, the member of the…  Read more
EBRD Arranges USD 46 million Syndication in Mongolia to Boost Xacbank's SME Financing

EBRD Arranges USD 46 million Syndication in Mongolia to Boost Xacbank's SME Financing

USD 46 million credit arranged by the EBRD will help leading small business bank increase long-term lending to SMEs The EBRD is arranging a senior USD 46 million loan to Mongolia’s XacBank, the fourth largest bank and a leading small business lender in the country. This will be the first syndicated financing facility for the EBRD in Mongolia’s financial sector involving commercial banks, and one of the first syndicated loans…  Read more
The IIB: a syndicated loan for Mongolia

The IIB: a syndicated loan for Mongolia

The International Investment Bank has made a decision to participate in a syndicated loan for the Mongolian Xac Bank. The IIB will grant the loan together with the European Bank for Reconstruction and Development. The total bank credit will amount to USD 30 million (with IIB’s share of USD 8 million). The loan will be provided for a term of three years. One of the largest Mongolian banks, Xac Bank is the leader both in financing…  Read more