Vladivostok, 7 September 2022The delegations of Gazprombank and the Government of Mongolia participated in a business meeting on the sidelines of the Eastern Economic Forum, which brought together Luvsannamsrain Oyun-Erdene, the Prime Minister of Mongolia, Ulziisaikhan Enkhtuvshin, the Ambassador Extraordinary and Plenipotentiary of Mongolia to the Russian Federation, the representatives of the senior management and heads of structural units of Gazprombank, as well as the Cabinet Ministers of the country.
The parties discussed the expansion of cooperation during the implementation of investment projects on the territory of Mongolia, cooperation in the financial sector, as well as the opportunities to exploit the potential of industrial facilities of the Gazprombank Group. One of the main subjects of negotiations was the discussion of the contract banking support mechanism, which can be applied to increase the efficiency of the state procurement system. Oleg Melnikov, Executive Vice President – Head of the Contracts Banking Support Department of Gazprombank, shared with the Mongolian party the practical value of using the tool during the implementation of projects both in the interests of government customers and the private sector, as well as the potential to transfer the banking support technology to other countries. At the moment, Gazprombank is the only bank that has this experience.
The parties also mentioned that it is necessary to enhance cooperation between Russian and Mongolian credit institutions, exchange best practices and create the required infrastructure for settlements in national currencies.
“Gazprombank was and remains a large international financial institution. We recognize the importance of development of productive bilateral relations and we are ready to work with the Government of Mongolia and Mongolian companies in all key industries by offering the required products, services and technologies for the development of the industrial capacity and infrastructure, and we are ready to contribute to the investment promotion in the country”, emphasized Alexander Garankin, First Vice President of Gazprombank.
“In the near future, we are planning to implement a number of major projects in the power industry, metallurgical industry, and infrastructure development. Successful completion of these projects will positively affect the Mongolian economy, contribute to the investment, tourism, transport system growth in the country, and improve the quality of life of our citizens. Needless to say, we are interested in attracting financial and technology partners from the Russian Federation. I am confident that the experience, competencies and resources of the Gazprombank Group will be in high demand. And today we have reached an agreement on further practical steps in this direction”, said Luvsannamsrain Oyun-Erdene, the Prime Minister of Mongolia.
Based on the results of the meeting, the parties have agreed to support bilateral cooperation and organize a business mission of the Gazprombank Group representatives to Mongolia in autumn 2022.
Communications and Marketing Department
Gazprombank (Joint Stock Company)