Trade and Development Bank of Mongolia and the United States International Development Finance Cooperation Officially Sign Long-Term Financing Agreement

Ulaanbaatar, October 30, 2024 /MONTSAME/. The Signing Ceremony of the Long-Term Financing Agreement established by the Trade and Development Bank (TDB) of Mongolia and the United States International Development Finance Cooperation (DFC) was held on October 24, 2024, in New York City, the U.S.

Chief Executive Officer of the DFC Mr. Scott Nathan and Chairman of the Board of Directors of TDB Mr. Randolph Koppa, representing their respective parties, signed the Long-Term Financing Agreement. 

With the signing of the agreement, TDB has become the first Mongolian bank to receive direct funding from the DFC. This funding will facilitate soft loans to Mongolia’s small-to-medium-sized enterprises and women business owners, and contribute to combat desertification, Mongolia’s consistent funding, and sustainable development. 

The Trade and Development Bank of Mongolia set a long-term goal of providing USD 2 billion in green financing to Mongolia’s economy by 2030. As part of this goal, TDB is actively seeking to raise long-term financing with favorable conditions from the international market. 

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