New IBEС partnership on the EAEU territory

At the end of October 2022, the International Bank for Economic Co-operation (IBEC) signed a General Financing Agreement with Armswissbank CJSC, a new partner of IBEC in Armenia. As part of the agreement, in December 2022, IBEC provided Armswissbank with a trade related loan in the amount of 29 million rubles for up to three months. The funds received will be used to finance contracts for the supply of food products from Armenia to the Russian Federation.

The General Agreement signed by the banks and the implemented trade finance deal became the first steps in the established partnership aimed at supporting foreign economic activity.

Currently, Armswissbank ranks 5th in terms of assets in the country and is actively working with the leading international development banks. Thus, cooperation with leading financial institutions in the countries of its presence allows IBEC to strengthen its positions both in the main and new markets.

Given the significant changes in the global macroeconomic picture and the turbulence in world markets currently taking place, developing relationships with existing partners and expanding cooperation with banks in the CIS and Asia are the key tasks that the Bank will focus on in 2023.

< Back to news
© 2024 IBEC Cookies Policy Privacy Policy Personal Data Processing Policy Site Map © 2024 IBEC
Website developed by