Ulaanbaatar
Trade and Development Bank of Mongolia and the United States International Development Finance Cooperation Officially Sign Long-Term Financing Agreement
Economy
Ulaanbaatar, October 30, 2024 /MONTSAME/. The Trade and Development Bank (TDB) officially held a signing ceremony for a long-term financing agreement with the U.S. International Development Finance Corporation (DFC), the United States of America’s development finance institution., on October 24, 2024, in Washington DC, USA.
Representing both parties, Mr. Scott Nathan, CEO of the DFC, and Mr. Randolph Koppa, Chairman of the Board of Directors of TDB, signed this long-term financing agreement.
This signing marks the first instance of a financial institution in Mongolia directly securing financing from DFC. The funds raised through this agreement will enable TDB to support micro, small, and medium-sized enterprises and women entrepreneurs in Mongolia, as well as address climate change. This is a significant step toward sustainable financing and development in the country.
TDB, aiming to provide $2 billion in green financing to the Mongolian economy by 2030, is actively working to raise long-term funding in the international market as part of its commitment to sustainable economic development.
