Visit Of U.S. EX-IM Bank Senior Vice President McAdams

Date: July 20, 2006
Contact: Public Affairs Section, U.S. Embassy
             976-11-329095, 976-11-312376

Export-Import Bank of the United States (Ex-Im Bank) Export Finance Group Senior Vice President (SVP) John McAdams visited Mongolia July 6 to 11 to explain Ex-Im Bank’s programs.  He said he was “impressed with Mongolia’s continuing transition to a market-oriented economy which led to Ex-Im Bank’s decision to open it facilities for short and medium term financing.”  Ex-Im Bank is the official export credit agency of the United States Government.  Ex-Im Bank assists in financing exports of U.S. goods and services, largely by assuming credit and country risks through guarantees and insurance. Ms. Talaat Rahman, Ex-Im Bank’s Regional Director for Asia and the Middle East accompanied McAdams during his visit.

SVP McAdams, accompanied by Ambassador Slutz and Ms. Rahman, met with Prime Minister Enkhbold, the Ministers of Health and of Industry and Trade, officials from the Bank of Mongolia, the Ministries of Finance, Foreign Affairs, Roads, Transport and Tourism, MIAT, Mongolian Civil Aviation Administration, Mongolian Railway, and the Mongolian Railway Authority.  McAdams also met with representatives of local commercial banks and local and foreign private sector companies.  In addition, McAdams attended opening events celebrating Naadam and Mongolia’s 800^th Anniversary.