News

The International Bank for Economic Co-operation financed trade operations between Poland and Uzbekistan for the first time. IBEC issued a targeted trade loan to Qishloq Qurilish Bank. Among the shareholders of this bank are the Ministry of Finance of Uzbekistan and the Fund for Reconstruction and Development of the Republic of Uzbekistan. The key areas of activity of Qishloq Qurilish Bank correspond to the profile of a development institution – among its tasks are support for small and medium-sized businesses and assistance in the development of social infrastructure.

The International Bank for Economic Co-operation presented a project of a blockchain platform for trade finance at the 41st Online Banking Conference of the Banking Association for Central and Eastern Europe (BACEE) "Lessons from the pandemic – how the banking sector prepares for the post-COVID period".

The International Bank for Economic Co-operation has taken part in a series of primary market bond deals in Central and Eastern Europe. All bonds meet the criteria of the IBEC development portfolio. The total amount of investments exceeded EUR 37 million.

International Bank for Economic Co-operation has started cooperation in the field of trade finance with HOCHIMINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK (HDBank), Vietnam. This is a forfaiting operation to repurchase a letter of credit debt in the amount of USD 4.8 million for a term of 16 months. IBEC financing ensures the procurement of equipment for the construction of solar power plants in Vietnam.