News

This is the second time International Bank for Economic Co-operation signs a credit facility agreement with Raiffeisen Bank International AG (RBI) for EUR 10 million with a maturity of two years. The first loan agreement was signed by the parties in November 2019. The funds will be used to support continued growth of IBEC’s trade finance portfolio and business of corporate clients in accordance with the Bank’s development strategy.

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.