Speaker discusses USD 300 million loan with Turk Eximbank

2018-03-13 17:12:35
Ulaanbaatar /MONTSAME/ The visit of Turkish Prime Minister Binali Yıldırım to Mongolia this April is on agenda, reported the Parliament’s Press Division on March 12.

The matter was mentioned during Parliament Speaker M.Enkhbold’s meeting with the authorities of Turk Eximbank in Istanbul during his official visit to Turkey at the invitation of his counterpart İsmail Kahraman.

The meeting was attended by Ali Koray Erden, Vice President, Susan Usta, Manager for International Loans, Umut Topal, Manager for International Trade and Finance, who briefed the Speaker on the bank’s operations and associations and cooperation with Mongolia. The Turk EXIM Bank has been cooperating with Mongolia’s Khan Bank, Golomt Bank and Development Bank.

Speaker M.Enkhbold touched upon the matters he discussed during his meeting with President Recep Tayyip Erdogan and said, “The possibility of taking USD 300 million loan from the Eximbank has been on agenda for many years. Although the credit line is open, we haven’t reached agreement until now due to two issues – high interest rate and loan guarantee. I am confident that the issue will be settled in time for the 50th anniversary of diplomatic relations between our two countries.” The Mongolia-Turkey Intergovernmental Commission will meet in Ulaanbaatar in the near future.

Vice President Ali Koray Erden replied, “We are looking at a specific solution for Mongolia and are ready to consider the proposals from Mongolia. For instance, the loan can be repaid in products. Moreover, the loan can be increased to USD 350 million.”