News

International Bank for Economic Co-operation expands its partnership network in Belarus, which is an important trading partner for most of the bank’s member states. General Cooperation Agreement was signed with the MTBank, and the first trade finance transaction has already been implemented. Pre-export financing of heavy equipment supply from Belarus to Russia was provided in the amount of 2 million euros and for the period of 11 months.

International Bank for Economic Co-operation acted as a co-organizer and investor in the securitization of the SME Bank’s loan portfolio in the sector of small and medium-sized enterprises. Bonds issued in the amount of 5.8 billion rubles are guaranteed by the SME Corporation (ACRA rating - AAA (RU)). The rate of the 1st coupon is set at 6.70% per annum. The issue was also organized by Sovcombank, BCS Global Markets, VEB.RF and Promsvyazbank.

International Bank for Economic Co-operation is increasing the volumes of documentary business. Another transaction with Belagroprombank has been carried out, the letter of credit in the amount of around USD 1.1 million was confirmed by IBEC. The funds were used to ensure the supply of agricultural products from Russia.

The International Bank for Economic Co-operation funded Saigon-Hanoi Commercial Joint Stock Bank (SHB) import letter of credit in the amount of USD 6.9 million. Funds are targeted to purchase agricultural products.