Since its establishment, Trade and Development Bank of Mongolia has been maintaining leading position in foreign relations and payment settlements while expanding correspondent relationship with international leading banks and financial institutions. Within the framework of supporting foreign trade with neighbor countries, Mr. B.Medree, a CEO of TDB, and Mr.Golovanov.D.R, Chairman of the Board of EXIM Bank of Russia, signed General Financing Agreement on September 21, 2015 in Moscow.
The agreement enabled short and medium term financing for clients of TDBM and Roseximbank on imports of equipment and non-commodity goods from Russian Federation. Roseximbank established in 1994 with purpose of promote country policy and increase exports of machines and equipment. Current main goal of the Roseximbank is to find a financial gateway for Russian export companies whilst promoting export of non-commodity goods.
Moreover, the bank supports export companies by issuing country guarantee and providing financing whilst handling medium and large sized projects and offering full support for newly established export companies. The main shareholder of the bank is EXIAR, an insurance agency of Russian Federation.
The General Financing Agreement is the third agreement signed in September within the scope of TDB’s strategic plan to expand foreign relationship. Previously, TDB signed Memorandum of Understanding with Československá obchodní banka and Magyar Trade House LLC, in order to finance foreign trades from Czech Republic