News

The International Bank for Economic Co-operation and the Development Bank of the Republic of Belarus (DBRB) have implemented the first joint transaction on financing the foreign trade operations. Funds in the amount of €15 million were provided to finance the supply of Belarusian non-resource exports to Poland, one of the IBEC member states.

International Bank for Economic Co-operation signed a loan agreement with Austrian Raiffeisen Bank International AG (RBI). RBI will provide IBEC with 10 million euros for a period of 2 years. The funds will be used in the key IBEC business profiles in accordance with the Bank’s updated development strategy. First of all, to increase trade finance operations, which is now one of the priorities and successful business lines and almost completely covers the geography of IBEC presence.

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.