RPT-UPDATE 1-Ivanhoe takes steps on Mongolia mine financing (Repeats to widen distribution)

* EBRD, IFC consider financing Mongolian copper-gold mine

* EBRD, IFC may provide up to $300 mln each

NEW YORK, May 21 (Reuters) - Ivanhoe Mines (IVN.TO) said on Friday it has signed a preliminary agreement with two international financial institutions that are evaluating a major financing package for the construction of the Oyu Tolgoi copper-gold mine in southern Mongolia.

The European Bank for Reconstruction and Development (EBRD) and the World Bank Group's International Finance Corp (IFC) will consider providing a two-part package to help finance the $4.6 billion project, which is expected to provide a large boost to the Mongolian economy

The EBRD and the IFC will consider providing up to $300 million each in project financing, while mobilizing a further $1.2 billion from commercial lenders, Ivanhoe said in a statement.

In October, the Mongolian government signed a long awaited deal giving Ivanhoe and its partner, Rio Tinto (RIO.AX) (RIO.L), the final go-ahead to develop the Oyu Tolgoi project. The Mongolian government is a junior partner in the project.

Ivanhoe said it has also received expressions of interest from export credit agencies that are interested in providing up to $500 million in direct project debt financing. (Reporting by Euan Rocha; Editing by Steve Orlofsky)


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