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Activities of International Development Finance Corporation and Exim Bank to be expanded in Mongolia


Densmaa 2023-12-01 05:12

The economic relations between the United States and Mongolia have strengthened in 2023, the U.S. Ambassador Richard Buangan said.

The economic relations between the United States and Mongolia have strengthened in 2023, the U.S. Ambassador Richard Buangan said.

The U.S. worked to fully implement the bilateral Transparency Agreement and supported the government of Mongolia in meeting commitments to improve the business climate.

"We have laid the foundation for Mongolia's participation in the global supply chain for critical minerals and helped connect Mongolia to the Indo-Pacific and global financial networks. We also supported the technical and administrative development of Mongolia's growing inland railway system," notes the U.S. Ambassador.

The number of high-level visits has increased this year, culminating in a historic visit by Mongolian Prime Minister Oyuun-Erdene Luvsannamsrai, which included a meeting not only with the vice president, but also with five cabinet officials, the Ambassador added.

"We also signed the open skies agreement, which paves the way for non-stop flights between the U.S. and Mongolia. Indeed, it has been a very successful year for U.S. economic relations. We continue to expand the activities of DFC and U.S. Exim Bank in Mongolia," he stated.

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