XACBANK AND DEVELOPMENT BANK OF THE REPUBLIC OF BELARUS SIGN EXPORT FINANCING AGREEMENT
September 5, 2013, Ulaanbaatar – XacBank signed an export financing agreement with Development Bank of the Republic of Belarus (DBRB). This agreement is one of the main outcomes from the business forum held between Belarus and Mongolia and this cooperation between the two banks will not only strengthen the Belarus and Mongolia economic relationship but will also make a significant contribution to increased trade between the two countries. The agreement was signed by Mr. Sergei Rumas, Chairman of the Board of DBRB and Mr. J. Ganbaatar, Director General of XacBank. The importance of this agreement is that DBRS will provide Mongolian companies, especially those which import products from Belarus, with an opportunity to receive special low interest rates on export loans.
The Development Bank of the Republic of Belarus was established in 2011 to finance government programs and investment projects of social importance. The bank, founded to support the country’s exports, provides loans with low interest rates through the Government agency Eximgarant.
XacBank, one of the leaders in the banking and financial services sector in Mongolia, provides all types of financial services to citizens, micro and SME entrepreneurs and large companies. The bank provides bundled financial services to its over 500 thousand clients through its 107 branches and sub-offices, business centers, over 1000 merchants and the agents of AMAR mobile banking nationwide. XacBank leads its services in the financial market with a mission concerned on Planet, People and Profit.
