IBEС supports the import of modern environmentally friendly equipment for Mongolian industry

The International Bank for Economic Co-operation has provided the Mongolian Transport and Development Bank (TransBank) with a trade-related loan of EUR 1.188 million as the first tranche for a period of one year. Funds provided by IBEC will ensure the supply of German jigging equipment for a dry coal preparation plant in Mongolia.

Dry sorting performed with the air jig increases the calorific value of the coalshining and at the same time serves as an example of sustainable processing since it does not pollute water with heavy metals. As the equipment successfully separates materials such as pyrite from the raw coal, it helps reduce the sulfur dioxide emissions generated through the burning of coal. Such technologies contribute to ecological sustainability in production which means handling raw materials such as water with great care, conserving and recycling resources, and saving energy.

Trade-related loan provided by IBEC meets the criteria of UN Sustainable Development Goals, namely, it provides support for the SME sector, promotes the rational use of water resources, as well as the sustainable development of industry in Mongolia. Moreover, IBEC continues to facilitate Mongolia's foreign trade with other countries in accordance with the Bank's strategic goals and development objectives.

Cooperation between IBEC and Transport and Development Bank began in 2021, when the parties entered into a General Agreement on the implementation of trade finance transactions in order to develop partnerships and jointly support the export-import operations of Mongolian companies. To date, a number of trade finance transactions totaling more than EUR 6 million have been implemented under the Agreement in different industrial sectors.

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