News

International Bank for Economic Cooperation has funded two more letters of credit for foreign trade contracts for the supply of polypropylene from Vietnam. The total amount is USD 3.5 million. Transactions are carried out in cooperation with the IBEC’s permanent and largest partner in the Vietnamese market — Saigon-Hanoi Commercial Joint Stock Bank (SHB).

International Bank for Economic Co-operation has carried out settlements for the supply of an indirect cooling system for a combined heat and power generation plant from Hungary to Russia. The cooling equipment is designed and manufactured by the leading European manufacturer Enexio Hungary Zrt. and contributes as a key component to the construction of a strategic infrastructure facility in the Russian Federation.

International Bank for Economic Co-operation continues to develop active interbank cooperation with Golomt Bank, one of the leading financial institutions in Mongolia. Banks have implemented three trade finance transactions totaling USD 2,2 million.

New trade finance deals were implemented in the Asian direction — in partnership with the Saigon-Hanoi Commercial Joint Stock Bank (SHB). IBEC provided financing under letters of credit opened for the export of polypropylene.