News

On May 29, 2020, rating agency ACRA Europe a.s announced the assignment of a long-term foreign currency rating at «BBB» with a stable outlook to International Bank for Economic Co-operation.

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.

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.