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Mongolia's Khan Bank, EBRD sign several loan agreements worth $70 mln

Mongolia's Khan Bank, EBRD sign several loan agreements worth $70 mln

The European Bank for Reconstruction and Development (EBRD) and Khan Bank, one of the largest commercial banks in Mongolia, have signed a package of loan agreements for a total amount of $70 million.

The package, signed by CEO of Khan Bank Norihiko Kato and Head of the EBRD Mongolia Resident Office Matthieu Le Blan, is aimed to support Mongolian financing of micro, small and medium-sized enterprises.

The package includes $30-million long term loan agreement aimed to promote small and middle-sized enterprises and their value chains, $10-million loan agreement for developing sustainable energy projects and $10-million loan agreement aimed to finance new enterprises within shared risk program.

The package also includes $20 million aimed to increase Khan Bank’s existing trade credit line for supporting trade finance sector.

Original url : www.akipress.com

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