News

The International Bank for Economic Co-operation actively develops factoring operations for its customers. Together with the National Factoring Company, one of the leaders of the Russian market in this area, another transaction was financed – the implementation of a contract for the supply of rolled steel from the Russian Federation to Lithuania for the production of polymer-coated materials. High-tech products are actively used in construction, engineering and shipbuilding, and agriculture.

The International Bank for Economic Co-operation continues to actively promote the development of foreign trade relations of its member states with the Republic of Belarus. The next trade finance transaction is executed with the Belarusky Narodny Bank.

The International Bank for Economic Co-operation is actively developing operations with off-balance sheet documentary instruments. IBEC confirmed a letter of credit issued by OJSC Belagroprombank in the amount of 221.1 million rubles. Banks took into account a number of special requirements of the client concerning the transaction, demonstrating a flexible customer-oriented approach, which is an important advantage of IBEC in the sector of trade finance operations.

The International Bank for Economic Co-operation continues to actively develop instruments to support foreign trade operations of its clients. IBEC acted as a reimbursing bank under a letter of credit issued by Golomt Bank(Mongolia), providing financing for the supply of food products to Mongolia from Poland. This operation ensured the implementation of the contract between the two member countries of the Bank, demonstrating the effectiveness of the financial infrastructure which is being created by IBEC for its clients.