Khan Bank, the largest commercial bank in Mongolia, and
South Korea’s state-owned Export Import (EXIM) Bank have signed a loan
agreement to support export and import trade financing in Mongolia. EXIM now
offers USD10 million credit facilities to Khan Bank so that it can provide to
its clients financial services like credit, guarantee and assurance in the next
two years.

The two-year credit facility will help companies engaged
in foreign trade with its flexible repayment terms, low interest rates, and
protection from financial risks. Trade does not have to be limited to South
Korea.