FAQ

A key feature of the Bank is its unique cash management service for MDBs, including an unlimited settlement function.

More details: https://www.ibec.int/work-with-us/corporate-clients/cash-management-services/

An unconditional priority for the Bank is to support economic growth and foreign trade operations of the member countries: Vietnam, Mongolia, Russia. In addition to activities in member countries, IBEC implements transactions and projects with counterparties from other states to support export-import transactions and integration projects of member countries. In this case, the main condition is the participation in the transaction of a resident of an IBEC member country.

States that share the mission, goals and principles of the Bank's activities can join the Agreement Concerning the Organization and Activities of IBEC. Admission to the Bank is made by unanimous decision of the supreme governing body – IBEC Council.

In order to develop long-term partnerships with states, international financial organizations, as well as other banking and financial organizations and funds, a special mechanism was established in December 2020 – Observer Status in IBEC. This status makes it possible to participate in the open part of the meetings of the IBEC Council and events organized by the Bank, including business forums, seminars and conferences. In addition, observers receive additional benefits in terms of access to Bank’s information and the development of various cooperation programs.

IBEC works with corporate clients and financial institutions. The Bank provides targeted support for export-import operations in member countries by providing loans, participating in syndicated transactions, providing trade finance products and cash management services.

More details: https://www.ibec.int/work-with-us/

The Bank provides support to SMEs in member countries both at the system level, through lending to SME portfolios of local banks or participating in targeted syndicated loans from other development banks, and through financing directly to small businesses.

More details: https://www.ibec.int/work-with-us/corporate-clients/lending-and-syndicated-financing/

The amount of IBEC participation in supporting projects is always individual and is determined by a) the client's needs, b) calculated risk indicators (taking into account the proposed collateral and other factors). At the same time, the amount of IBEC participation in financing large projects can be no more than EUR 40 million in equivalent.

IBEC is not a lessor or lessee, but can provide financial support by lending to a lessee or lessor.

At the moment, IBEC is participating in two programs of the Russian Federation to support industrial exports and agricultural producers (for more information, see the link: https://ibec.int/ru/work-with-us/corporate-clients/support-programs/)

The Bank considers as collateral: movable and immovable property, for which the Pledger has documents confirming the right of ownership.

1. Property complexes:

production facilities, elevators as part of the property complex (real estate objects, equipment of the property complex, infrastructural objects of the property complex are simultaneously pledged as collateral);

gas and oil storage facilities as part of the property complex (real estate objects, equipment of the property complex, infrastructural objects of the property complex are simultaneously pledged as collateral);

Gas stations as part of a property complex with technological equipment, which functionally ensure the operability of an asset (real estate objects, equipment of the property complex, infrastructural objects of the property complex are simultaneously pledged as collateral).

2. Real estate:

buildings (premises) and facilities with utilities, transfer units and voltage levels (for example, a transformer substation, power lines, boiler room, access roads, treatment facilities, etc.);

Structurally isolated premises that do not have their own entrance group or a properly designed easement, ie. the rights of limited use of someone else's immovable property, for example, for the passage, laying and operation of the necessary communication lines and other needs that cannot be ensured without establishing easement;

land plots with satisfactory passages, located at a reasonable distance from large cities, without restrictions or encumbrances.

3. Movable property:

fixed assets (movable property, excluding low-value fixed assets) owned by the Borrower or companies participating in the Borrower's business, with physical wear and tear of no more than 30%.

movable property, namely finished goods and goods in circulation, owned by the Borrower or companies participating in the Borrower's business, can be considered as additional collateral. In this case, the structure of collateral is as follows: 75% of liquid real estate and / or movable property and 25% of finished products and / or goods in circulation.

4. Immovable and movable property acquired at the expense of the Bank

5. Intangible assets:

funds in a pledge account opened with the Bank

securities of third parties

rights of claim under contracts with debtors

funds in the current account opened with the Bank, with the right of direct debiting

funds deposited in accounts with other banks, with the right of direct

write-offs for the Bank

maintenance of minimum turnovers on accounts opened with the Bank, with the right of direct debit

shares of the Borrower

promissory notes

guarantees and sureties of banks, other enterprises and organizations

surety of beneficiaries

The Bank does not consider as collateral:

property to which the Pledger has not confirmed or cannot confirm the right of ownership (economic management, lease)

property of religious organizations and associations

property used in the production and trade of tobacco products, strong alcoholic beverages, narcotic drugs and psychotropic substances;

property used for the organization and maintenance of gambling establishments

property used for the production and sale of weapons or activities for its sale

property related to charity or other unregulated non-commercial activity

property of political organizations and movements

perishable foodstuffs or other Property with a shelf life / storage / sale period of less than 12 months, as well as Property requiring special storage conditions

pharmaceuticals

railway rolling stock over 20 years old

X-ray equipment and other equipment containing radioactive and isotopic substances

property that has been seized

property on the basis of operational management

The International Bank for Economic Co-operation (IBEC) is an international financial organization established in 1963 and operating under an intergovernmental agreement registered with the UN Secretariat. IBEC in its status is similar to such international financial institutions as the EBRD, IFC, ADB, EDB and others.

The main goal of the IBEC is to promote the development of the economies of its member countries of the Bank, foreign economic relations between the economic entities of the member countries, as well as the expansion of their foreign trade relations with counterparties from other countries. Unlike commercial banks, making a profit is not the primary goal of the Bank. Due to its status as an international financial organization, IBEC is not a subject to national banking and other regulations, it has immunities and privileges. In addition, the Bank is exempt from paying taxes on the territory of its member states.

IBEC is an international financial institution similar in its status to the EBRD, IFC, ADB, EDB and other international financial institutions. And like any other international financial institution, IBEC is not subject to any sanctions or restrictions.

IBEC prepares financial statements on a semi-annual basis in accordance with International Financial Reporting Standards. Since the IBEC has no subsidiaries and affiliates, the consolidated financial statements of the IBEC are not prepared. For more details on the IBEC financial statements visit the following link – https://www.ibec.int/ru/investors/finstatements/

The Bank's Statuses lays down the principle of equality in decision-making, which means that, despite its share in the authorized capital, one country has one vote.

IBEC prepares financial statements on a semi-annual basis in accordance with International Financial Reporting Standards. Section 29 of the notes to the financial statements of IBEC includes information on capital adequacy. The minimum capital adequacy (CAR) approved by the IBEC Council is 25%.

The recruitment of personnel at IBEC is carried out on the basis of an international competition held among the candidates, mainly from the member states of the Bank.

The competition lasts from the moment of opening until the conclusion of an employment contract with the final candidate, but no more than 6 months from the opening date of the competition. In practice, the closing time for a vacancy is about 4 weeks.

For vacancies at the level of the position "Manager", the Selection Board includes the Management Board of the Bank.

For vacancies at the “Specialist” position level (with no subordinate employees), the Selection Board includes:

Member of the Management Board in charge of the division in which the vacancy is open;

Head of the structural unit in which the vacancy is open;

Employee of the Human Resources Department.

Interviews are usually held in Russian – the working language of the IBEC. However, in cases when the position requires the knowledge of the English language, part of the interviews (or all interviews) can be held in English.

Yes, all the interviews and other assessment procedures can be conducted remotely. However, it is necessary to have a stable high-speed Internet connection and quality equipment to ensure good audio and video communications during interviews. Typically, distance interviews are recorded to provide the best and most objective assessment of the various candidates involved in the selection.

The Bank uses uniform criteria for evaluating and selecting Candidates, focused primarily on professional and personal competencies, qualifications and work experience. These criteria are determined by the qualification requirements set by the Bank for different levels and categories of positions, including requirements for the level of education, work experience, knowledge of foreign languages, the level of proficiency in a personal computer and others.