Mongolia
Mongolia
  • ACD Member
  • B3/B
    Moody’s/Fitch Ratings
  • GDP Growth (2019) : 4,8%
Priorities
Support of Mongolia’s trade in traditional commodities and the country’s geographic trade destinations
Assistance in opening new import channels for Mongolia
Focus on support of Mongolian exports
Statistics
€ 55 881
Credit portfolio (EUR thous.)
€ 792
Documentary portfolio (EUR thous.)
€ 5 481
Securities portfolio (EUR thous.)
25
Number of projects

Strategy

According to the strategy, IBEC will provide comprehensive support to the development of Mongolian foreign trade. Taking into account the country's focus on import substitution, as well as geographic and country diversification of exports, support for export operations is a priority.
Promoting the geographical diversification of Mongolia's foreign trade and the entry of national exporters into new markets.
Participation in financing projects and programs aimed at the development of transport and logistics infrastructure.
Support for the SME sector.
Development of a network of partners in the Mongolian market (financial institutions, non-profit and government structures, national development institutions).

Interaction of IBEC with state bodies of Mongolia

OBJECTIVES of the IBEC’s work with state bodies: Bilateral interaction with the target audience — informing it about the work and plans of the IBEC, as well as obtaining and analyzing relevant information from the target audience in accordance with the business profile and initiatives of the Bank, using such information in the Bank’s work to develop its activities, in particular, by implementing new projects in order to fulfill the IBEC mission.
PRINCIPLES of the IBEC's work with government bodies
Honesty
Adherence to ethical behavior, honesty and responsibility in its activities. Strict adherence to the IBEC Code of Corporate Ethics
Legality
Compliance of actions with legitimate business goals, the interests of the Bank, subject to the requirements of the laws of the country of the counterparty. IBEC takes all reasonable measures to ensure that positions presented to the Bank’s governing bodies are based on factual data and not on opinions
Accountability and oversight
Mandatory coordination of goals and approaches to working with contacts, as well as planning activities and regular reporting to the Bank’s management
Consistency
The responsible division of IBEC plays a key role in ensuring consistency of all work with contacts carried out on behalf of the Bank or in connection with its objectives
Transparency
IBEC speaks openly about the guiding principles, goals, policies and procedures for its work with contacts in government agencies
Key partners for the implementation of the IBEC Country Strategy in Mongolia:
  • Ministries and Departments;
  • Diplomatic missions;
  • Trade representations;
  • Intergovernmental commissions;
  • Business Council of Mongolia;
  • Mongolian National Chamber of Commerce and Industry.
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