Navagchamba Baasanjav – Positive development of the German-Mongolian banking cooperation

Navagchamba Baasanjav came to Germany on behalf of her employer, the Khan Bank. With some 4,000 employees and 488 branches, it is the largest bank in Mongolia. The senior legal advisor, who had studied foreign trade law in Munich seven years earlier, was well-prepared for her stay and very much looked forward to revisiting Germany.

“I didn’t only select the companies I wanted to visit beforehand, but the specific contact as well. Before I set out, I sent them the topics I wanted to discuss, so we could make optimal use of our meeting time.”

The Khan Bank has been working with a leading German bank for a long time. The aim of one of Baasanjav’s meetings was to extend this co-operation to areas such as foreign trade financing. In particular, the talks with the bank and a credit insurer focused on providing the Mongolian company, APU AG, with a loan. And they proved a success: for the first time ever, the German credit insurer agreed to grant a Mongolian importer a loan totalling 6.3 million euros for the purchase of equipment. And a co-operation agreement is also planned with another bank.

As Baasanjav also wanted to take German know-how back home with her, she attended a training institute to learn about new methods of personnel recruitment. Upon her return to Mongolia, she presented two efficient procedures to her company and is now planning their implementation.

“I was glad to see the changes that had occurred in Germany since my graduation. Much of what I saw will be an inspiration for change back home.”

Name: Navagchamba Baasanjav
Company: Khan Bank, Ulaanbaatar, Mongolia
Sector: Banking
Position: Senior Legal Advisor
Internship in Germany: 11 October – 8 November, 2009
Training centre: Consortium Carl Duisberg Centren, Cologne