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IIB and Slovak Republic to offer Mongolia technical assistance for economic development

The American Chamber of Commerce in Mongolia
2017-12-08 12:15 GMT+8

During a December 6 meeting in Bratislava, Slovakia, Chairman of the Financial Regulatory Committee (FRC) S. Davaasuren and the Deputy Chairman of the International Investment Bank (IIB), Jozef Kollár, signed a memorandum of understanding on the provision of technical assistance from Slovak experts in economic stability and development.

The Slovak Republic and the IIB will grant Mongolia an initial 20,000 EUR to combat money laundering and the financing of terrorism, and to improve financial legislation and public education about existing regulations.

This is the first program being undertaken by the IIB and Slovak Republic's Technical Assistance Fund. Registered with the United Nations Secretariat, the IIB focuses on promoting social and economic development, prosperity, and economic cooperation between its member states. Headquartered in Moscow, Russia, the IIB has nine member states, including Bulgaria, Cuba, the Czech Republic, Hungary, Romania, Russia, Slovakia, Vietnam, and Mongolia.

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