Ex-Im Bank, Development Bank of Mongolia Sign MOU to Facilitate Trade Partnership Between Countries
2012 MAY 20 - (VerticalNews.com) -- The Export-Import Bank of the United States (Ex-Im Bank) and the Development Bank of Mongolia (DBM) today signed a memorandum of understanding (MOU) to facilitate trade opportunities between the United States and Mongolia.
Ex-Im Bank Chairman and President Fred P. Hochberg and DBM Chairman Batjargal Bazarsuren signed the agreement at the Development Bank 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.
Keywords: Industry, Economics, Money Center Banks, Financial Companies.
This article was prepared by VerticalNews Internet editors from staff and other reports. Copyright 2012, VerticalNews Internet via VerticalNews.com.