News

International Bank for Economic Co-operation is expanding its range of trade finance instruments. The first forfaiting deal is implemented — IBEC bought out the obligations of the Vietnamese SHB Bank in the secondary market from an international financial institution. The transaction amount is USD 2.5 million, for a period of 4 months.

On November 18, the Russian and Bulgarian chambers of commerce and industry held a conference dedicated to the investment prospects of the Bulgarian economy, opportunities for cooperation between Russian and Bulgarian business circles.

International Bank for Economic Co-operation took part in a syndicated loan for Xalq Bank (State Commercial People’s Bank). The subscription, organized by Deutsche Bank AG, raised USD 102.5 million for a period of 13 months. Together with IBEC, Russian and European financial institutions also took part in the transaction. IBEC financing is aimed at supporting the export of goods, works and services from the IBEC member countries – Russia, the Czech Republic and Poland – to Uzbekistan.

The Analytical Credit Rating Agency (ACRA) has affirmed to the International Bank for Economic Co-operation its credit rating A- under the international scale and AAA (RU) under the national scale for the Russian Federation. The outlook for the affirmed ratings is Stable.