Korea Eximbank signs $30m financing deal with Mongolian bank

The Export-Import Bank of Korea said Friday it signed a memorandum of understanding with Mongolia's Trade and Development Bank to provide $30 million in on-lending financing aimed at supporting exports of Korean consumer goods.

The agreement is designed to channel policy financing through TDB, which operates more than 90 branches and serves a large number of importers of Korean food, cosmetics and other consumer products.

The financing marks Korea Eximbank's first on-lending support for Mongolia