IBEC presented its value proposition for Mongolian companies and held meetings with banks

The delegation of the International Bank for Economic Co-operation under the leadership of Mr. Denis Ivanov, Chairman of the IBEC Board, visited Mongolia with a business mission at the end of May 2024.

The IBEC representatives took part in a number of meetings and negotiations with key partners of the Bank, and also held a business event for Mongolian companies. The focal topics for discussion were the Bank's current projects in the country, prospects for further cooperation with corporate clients and financial institutions of the country.

On May 22, 2024, the Mongolian Chamber of Commerce and Industry held a business meeting of the International Bank for Economic Co-operation with Mongolian companies. More than 20 companies from the textile, transportation and logistics, agriculture and healthcare sectors participated in the event.

Mr. Magnaibaatar, Deputy CEO of the Chamber, opened the event with a welcoming speech focusing on supporting Mongolia's trade relations as a joint focus for the Bank and for the Chamber.

The IBEC delegation emphasized the main objective of the Bank's work in terms of contributing to the sustainable socio-economic development of Mongolia, shared with the guests the strategic goals of the Bank and presented in detail the whole product line.

The IBEC representatives highlighted the opportunities of the Bank, as an international financial institution, in terms of measures to support foreign economic activities of Mongolian companies, including expansion of operations in new markets in order to geographically diversify foreign trade. Among other priorities, the IBEC delegation identified the development of small and medium-sized enterprises to ensure sustainability and inclusiveness of economic growth, building productive capacity of agro-food complex and development of logistics and transport infrastructure.

The official part of the event ended with a Q&A session, in which the main emphasis was placed on specific business cases. At the end of the event, the business dialog continued in the format of working bilateral consultations.

During the visit, the Bank's delegation also held business meetings with IBEC partners from the Mongolian banking sector to exchange views on the prospects of trade finance development and instruments to support Mongolian companies. Considering the strategic priorities of IBEC, the Bank paid special attention to the instruments of co-financing of sustainable development projects and programs.

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