IBEC contributes to the development of transport infrastructure in Mongolia

The International Bank for Economic Co-operation continues to support Mongolia's export-import operations through its trade finance operations. In cooperation with the Trade and Development Bank (TDB), IBEC financed the import of freight wagons.

IBEC provided a number of trade-related loans totaling EUR 12.4 million for up to one year. The proceeds were used by TDB to purchase Russian-made freight cars from suppliers in the CIS and Europe.

Following the completion of this project, TDB supported the goals of the "New Recovery Policy" adopted by the Government of Mongolia to boost exports, enhance freight movement and establish the necessary framework for becoming a transit country in the future.

Thus, IBEC, in cooperation with its long-standing partner TDB, continues to implement trade finance operations aimed at supporting the economy in general and socially and economically significant sectors in particular. The implementation of this project is aimed at increasing imports, supporting Mongolia's foreign trade, as well as developing transport infrastructure by increasing the fleet of railway cars.

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