OREANDA-NEWS. As part of the 37th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) taking place in Moscow, State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' and the Development Bank of Mongolia signed a Memorandum of Understanding.

On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev, on behalf of the Development Bank of Mongolia - by Board Chairman ShinebaatarBegzsuren.

The Memorandum provides for promoting all-round and effective cooperation, participation in implementing joint programs and projects including in infrastructure, trade and export financing. The parties intend to cooperate on capital markets, share business experience in banking technologies and services.

The signing of the Memorandum of Understanding is Vnesheconombank's another step in expanding international cooperation in the Asian Pacific region.