Ex-Im Bank, Development Bank of Mongolia Sign MOU to Facilitate Trade Partnership Between Countries
May 2, 2012
(Ex-Im Bank)
Ex-Im Chairman conducting first business
development mission to Mongolia
Ulaanbaatar, Mongolia: The Export-Import Bank
of the United States (Ex-Im Bank) and the
Development Bank of Mongolia signed a
memorandum of understanding (MOU) on May 1st to
facilitate trade opportunities between the
United States and Mongolia.
Ex-Im Bank Chairman and President Fred P.
Hochberg and Development Bank Chaiman
Bazarsuren Batjargal signed the agreement at
the Government House of Mongolia.
“Mongolia has one of the fastest growing
economies in the world, and there are enormous
opportunities for U.S. businesses to help meet
the country’s growing infrastructure needs,”
said Fred P. Hochberg, chairman and president
of Ex-Im Bank. “Signing this document
represents a pledge of cooperation, and we look
forward to working together on upcoming
projects that benefit both of our countries.”
Chairman Hochberg is on a business-development
mission in Mongolia to encourage sourcing of
U.S. products and services for regional
infrastructure projects. The Bank has
historically had limited exposure in the
country, however, several products are
currently in the pipeline that will increase
Ex-Im’s activity.
This is Hochberg’s first visit to Mongolia, and
it is the first recorded visit of an Ex-Im Bank
chairman to the country since the Bank was
formed in 1934.
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