The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman EUN, Sung-soo, "Korea Eximbank") announced July 7 that it signed a USD 19 million EDCF loan agreement with the Mongolian government to support the modernization of the National Archives of Mongolia.

Korea Eximbnank Senior Executive Director Shin Deog-yong signed the agreement with the Mongolian Finance Minister Chimed Khurelbaatar at the Ministry of Finance in Mongolia on July 5.

Mongolia holds a vast and diverse collection of historical records reaching as far back as the period of the Mongolian empire of Genghis Khan to the present, which are managed in the non-electronic form being exposed to risks of damage and loss.

In light of this, Korea Eximbank and the Mongolian government agreed to support the project with an EDCF loan to introduce electronic records management systems and digitalization of the National Archives of Mongolia.

The project is expected to enable the country’s national archives to systematically manage its important national records while helping Korean companies with advanced ICT technologies to make entry into overseas markets.

Senior Executive Director Shin of Korea Eximbank said at the signing ceremony “As the EDCF agreement will support Mongolia’s very meaningful initiative under its state plan, we hope this project will contribute to further strengthening the economic cooperation between the two countries.”