ABC provides export credit to Trade and Development Bank of Mongolia to finance imports from China

In July 2011, the Trade and Development Bank of Mongolia and the Agricultural Bank of China (ABC) signed an export credit agreement to finance imports from China. The loan proceeds were to be used by the borrower to finance imports from China. The repayment dates for the loan varied in accordance with the maturity lengths of the various subsidiary loans that Trade and Development Bank of Mongolia issued (on-lent) to different borrowers. The outstanding balance of the ABC loan amounted to RMB 2,333,600 (MNT 835,336 thousand) as of December 31, 2016, and RMB 1,500,000 (MNT 461,310 thousand) as of December 31, 2015. The loan was fully repaid and there was no outstanding loan balance as of December 31, 2017.

Additional details

1. The export credit agreement that was signed in July 2011 is also known as the Import Finance Facility Agreement and the Export Trade Agreement. 2. The face value of the export credit agreement is unknown. For the time being, AidData relies on the highest recorded (principal) amount outstanding (RMB 2,333,600) under the export credit agreement as a proxy.

Number of official sources

4

Number of total sources

4