Today, the whole world, all human civilization has faced a global threat that has jeopardized the usual way of life, prevailing business practices, our personal plans and social prospects. The joint efforts of political leaders, governments, business community, and international organizations are aimed at countering the pandemic, minimizing economic, social, humanitarian losses and the following early recovery of the normal functioning of our common home - planet Earth.
International Bank for Economic Co-operation, which unites states with different socio-economic structures, national and cultural traditions, remains committed to the values of cooperation, mutual assistance, and development. We monitor the situation daily with particular interest and concern, paying attention to the situation in our member states, empathizing and supporting all efforts to combat the pandemic and to overcome its negative consequences.
IBEC and all its employees share the anxiety over the outcome of the fight against new infection - COVID-19, and we are doing everything possible to make our contribution to achieving overall success. IBEC has already transferred to remote work all employees whose presence in the office is not critical. At the same time, the Bank provides the usual service for its customers and partners. We do not freeze our projects and programs; we fulfill and will fulfill all our obligations. Already in pandemic, IBEC has implemented a series of transactions to support foreign trade contracts in the territory of its member states. Stable financial position and healthy asset structure are the key to our self-confidence, and our ability to ensure the clear implementation of our functions.
The special role of international financial organizations enables and obliges them to become leaders in the post-pandemic restoration of international economic and social ties, to use the whole range of their competencies, capabilities, resources in order to give new incentives for development, to support the beginnings of new economic growth and social progress.
In the new current turbulent conditions IBEC, as a multilateral development institution, will also concentrate its efforts on fulfilling its mandate - supporting small and medium-sized businesses in its member states, promoting international trade, and contributing to the development of the green economy. We are confident that the forced reduction in business activity will result in new opportunities, in the implementation of which IBEC will be a reliable adviser and partner for all our current and future clients, for our member states. We are sure that together we will overcome the current difficulties and continue mutually beneficial cooperation!