MOU for Strengthening Mutual Relations with the Mongolian Government
Supporting Japanese Companies’ Exports and Business Expansion
- Area: Asia
- Energy and Natural Resources
JBIC signed a MOU for the purpose of enhancing financial cooperation including provision of an export credit line*1 with the Ministry of Finance of Mongolia. The MOU states that the two institutions will share information and hold regular consultations that could possibly help to increase Japan-Mongolia business and trade activities in the resource, infrastructure and manufacturing sectors. With this MOU, JBIC seeks to strengthen institutional arrangements to support Japanese companies for doing business in such areas as mineral resource development and associated infrastructure development in Mongolia. It is expected that this MOU will strengthen the two countries’ economic relations.
- *1An export credit line is a form of export credit in which JBIC makes a commitment of the maximum amount of credit to be extended to its client (foreign banks or other entities) to finance exports of machinery, equipment and services from Japan.