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Overview

Trade and Development Bank of Mongolia extends the Import Financing Agreement with Agricultural Bank of China (Linked to Record ID#47000)

Commitment Year•2018Country of Activity•MongoliaDirect Recipient Country of Incorporation•MongoliaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)

Receiving agencies

State-owned Banks

  • Trade and Development Bank of Mongolia

Loan description

Trade and Development Bank of Mongolia extends the Import Financing Agreement with Agricultural Bank of China

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2011, the Trade and Development Bank of Mongolia (TDB) entered into an Import Financing Agreement with Agricultural Bank of China (ABC). The agreement enables the TDB to finance its customers for import goods. In 2018, TDB extends the agreement. The outstanding loan amounted to CNY 9,027,000 (MNT 3,481,985 thousand) at December 31, 2018. The repayment dates for this loan vary in accordance with the tenor of loans granted to the various borrowers. (TDB Annual Report 2018)