News

International Bank for Economic Co-operation continues to form a partnership network in Uzbekistan, implementing a new deal to support non-oil exports of its member states. IBEC issued a reimbursement obligation under a letter of credit opened for the purchase of the Russian metallurgical sector products.

International Bank for Economic Co-operation has provided a long-term credit line to Metalloinvest company in the amount of up to 40 million euro. The agreement signed by IBEC and Metalloinvest ensures the provision of loans for 3 years, repayment within 7 years. The funds will be used to finance the cost of importing new high-tech equipment. In the context of macroeconomic and socio-political uncertainty, such a long-term transaction demonstrates the confidence of partners in mutual plans and sustainability of business processes.

On May 18, 2020, the Analytical Credit Rating Agency (ACRA) announced that the International Bank for Economic Co-operation was assigned a credit rating on the international scale — A- with a stable outlook and AAA (RU) on the national scale for the Russian Federation, with a stable outlook. In accordance with the national ACRA rating scale, AAA (RU) is the highest rating for the Russian Federation.

The International Bank for Economic Co-operation is expanding the geography of trade finance operations to support the foreign trade of its member states.