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Mongoloor
On 7-8 June 2018 in Ulaanbaatar, the capital of Mongolia, a delegation of the International Bank for Economic Co-operation (IBEC) composed of Denis Ivanov, IBEC Chairman of the Board, and Gotov Tserenpurev, IBEC Board member, actively participated in two prominent events: Interstate Economic Forum within the framework of ‘Russian-Mongolian Initiative-2018’ and the forum titled ‘Co-operation between Mongolia and Russia in Financial and Investment Aspects and the Third Round Table Meeting of Mongolian and Russian Banks’ as organized by the initiative of U. Enkhtuvshin, Mongolian Vice Premier.
During the Financial and Investment Forum D. Ivanov, IBEC Chairman of the Board, made a presentation on the IBEC’s role as inter-regional multilateral institution in the promotion of export-import operations as well as he participated in a panel discussion.
As D. Ivanov stated in his speech, ‘Considering the format and the shareholder structure it is exactly the group of inter-regional multilateral institutions which has capabilities and competences for an active development of the member states’ integration as well as stimulation of foreign trade both between the members and between these states and the rest of the world’.
Besides, during the visit to Mongolia the IBEC delegation had meetings with heads of two major Mongolian financial agencies: President of Mongolbank and Mongolia’s Minister of Finance, as well as a series of meetings with commercial banks.
On 8 June 2018 two official signing ceremonies took place: signing of Comprehensive Co-operation Agreement between IBEC and Trade and Development Bank LLC (TDB) as well as signing of Comprehensive Co-operation Agreement between IBEC and Golomt Bank LLC. This event is another step towards the development of relations between IBEC and banks from Mongolia - the country which is IBEC’s perennial member state.
IBEC already has experience of active co-operation with permanent and new Mongolian customers and banks in settlements, treasury operations and lending. And recently good partner relations have been established with the afore-mentioned TDB and Golomt Bank in trade financing of Russian goods export to Mongolia.
The Asian vector of development is a prominent component of the IBEC’s Development Strategy for the period up to the year 2020 and the Bank targets overall business promotion in this direction for the benefit of all its member states.
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