Background

IBEC finances supply of fire equipment to Mongolia

International Bank for Economic Co-operation in partnership with the Development Bank of the Republic of Belarus (BRRB) has implemented a new project to support foreign trade operations. The transaction in the form of a trade credit in the amount of 4 million euro ensured the supply of Belarusian special vehicles, produced to extinguish fires and conduct rescue operations, to Mongolia. Engines are delivered complete with fire-fighting and rescue equipment. The social value of the contract meets the statutory objectives of IBEC in the development of both public infrastructure in member states and foreign trade in the territory of the Bank's presence.

IBEC and BRRB have formed stable partnership. It is noteworthy that so far the cooperation between the two banks has been concentrated in the East European direction, and the new deal is focused on the Asian region, which is important and significant for IBEC. Thus, the Bank implements a strategy of geographical diversification and provides its partners, Eastern European in this case, with opportunities to expand to new markets, ensuring customary and comfort level of support. On the other hand, new prospects for Asian IBEC clients open up in Eastern Europe and the CIS. Sustainable cooperation of development institutions made it possible to fulfill their functions of national economic development and foreign economic relations and support the implementation of the contract within the shortest possible period of time in the current complex economic realities.

In times of socio-economic turbulence, IBEC provides its clients with financing of trade contracts, hedging country risks. The Bank continues to work actively with all its customers and partners, both in the member states and in neighboring territories, in the interests of their comprehensive development.

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