On May 5, 2026, during the 59th Annual Meeting of the Asian Development Bank (ADB) held in Samarkand, Uzbekistan, Golomt Bank JSC and the Export-Import Bank of India took an important step toward strengthening bilateral trade relations. Mr. Tarun Sharma, Deputy Managing Director of the Export-Import Bank of India, and Mr. A. Odonbaatar, Chief Executive Officer of Golomt Bank, formalized this collaboration by signing an Issuing Bank Agreement (IBA), marking a key milestone in advancing business cooperation between the two institutions.

Under the Export-Import Bank of India’s Trade Assistance Program (TAP), the parties aim to further deepen trade ties between Mongolia and India, while expanding access to efficient trade finance solutions for businesses engaged in cross-border trades. Pursuant to this IBA, Export-Import Bank of India will serve as a guarantor bank for export transactions from India to Mongolia, accelerating the overall security, credibility, and reliability of these transactions.

Golomt Bank continues to expand its global partnerships and remains committed to delivering tailored trade finance solutions that meet the evolving need of its clients. As of March 2026, Golomt Bank maintains a leading market position in Mongolia’s trade finance sector, representing 41.55% of the total value of letters of credit and bank guarantees issued, and 53.01% of their aggregate volume in the market.

For more detailed information about trade finance services click HERE.

Investing for a brighter future