Northeast Asian EXIM Banks Association reviews working process in Mongolia

Oyundelger 2018-01-25 08:01

Economy

Under the Greater Tumen Initiative (GTI), the 8th working-level meeting of the Northeast Asian EXIM Banks Association (NEA EBA) was held in Ulaanbaatar.

Under the Greater Tumen Initiative (GTI), the 8th working-level meeting of the Northeast Asian EXIM Banks Association (NEA EBA) was held in Ulaanbaatar. Officials from the EXIM Banks of China and South Korea, Development Bank of Mongolia and Russian Vnesheconombank attended the meeting. The GTI is an intergovernmental cooperation mechanism among Mongolia, China, the Republic of Korea and the Russian Federation, established in 1995 and supported by the United Nations Development Program. The initiative focuses on the priority areas of transport, trade, investment, tourism, agriculture, energy and environment. Three Mongolian aimags – Khentii, Dornod and Sukhbaatar are involved in the initiative. At the 8th working-level meeting, the sides exchanged views on funding of the 2nd stage of the Specialized Grain Terminal project in the Russian Zarubino port and potential projects and programs for stepping up cooperation. The NEA EMA was established in 2012 to operate as a financial and economic cooperative mechanism of the GTI. Members of the association - Development Bank of Mongolia, Russian Vnesheconombank and the EXIM Banks of China and South Korea - work towards expanding the scope of cooperation with the Governments of the member states.