News

In 2020, International Bank for Economic Co-operation continues to expand in the sector of trade finance, relying on the already existing financial partnerships. Over the past period, from the beginning of the year, two significant transactions were concluded with a longtime partner of IBEC — OJSC Belagroprombank, which was provided with financing in the amount of more than 4 million euro.

International Bank for Economic Co-operation has disclosed its financial results in accordance with the International Financial Reporting Standards with an auditor’s report for the past year.

International Bank for Economic Co-operation is expanding the range of trade finance instruments with partners from the Republic of Belarus, using efficient and customer-friendly transaction schemes. The Bank issued a payment guarantee under 100% coverage by the counter-guarantee of the Belarusky Narodny Bank. Guarantee period — one year, transaction amount — 0.4 million euro.

The International Bank for Economic Co-operation and Golomt bank (Mongolia) have signed a Memorandum of Understanding. It is aimed at developing a «green economy» and denotes joint plans of financial institutions to finance environmental projects in Mongolia, IBEC member states and regions of Bank’s presence.