Mongolia asks VTB for $200m loan

By Andrei Skvarsky.

Mongolia’s government has asked VTB, Russia’s second-largest bank, for a loan of $200m for buying Russian oil products, Russian media have said.

“The two sides expressed satisfaction with an export loan extended by the VTB bank to the Development Bank of Mongolia, which has enabled Mongolia to be supplied with Russian oil products,” media stories quoted the Russian cabinet as saying in a report on Russian-Mongolian governmental talks in Ulaanabaatar on December 13. The report was published this week.

“The Mongolian side has asked the VTB bank to consider long-term financing to a sum of $200m with better terms for interest rates,” the report said.

There has been no news yet about whether the request has been granted.

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