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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.

The International Bank for Economic Co-operation has provided a loan to Bulgartransgaz EAD, which is a combined operator performing licensed activities of natural gas transmission and storage in Bulgaria. The loan agreement was signed at the Bulgarian Embassy in Moscow in the presence of the Ambassador Extraordinary and Plenipotentiary Mr. Atanas Krastin on October 22 — the 56th anniversary of the IBEC foundation.

The Memorandum of Understanding between IBEC and DBM Leasing, a subsidiary of the Mongolian Development Bank, was signed at the Moscow office of the Bank by the IBEC Chairman of the Board Denis Ivanov and the President of DBM Leasing Purevsuren Ganbat. The new partner of the bank specializes in leasing operations in infrastructure areas such as transport, agriculture, mining, the supply of medical equipment, focusing, inter alia, on supporting foreign economic activity. The memorandum determines areas of future cooperation — IBEC intends to provide credit resources and contribute to the successful implementation of investment projects in Mongolia with the support of DBM Leasing. The head of the company, Purevsuren Ganbat, ex...