IBEC has issued reimbursement obligations under two letters of credit of Belarusbank for a total amount of 15.5 million euros. The commitment period is two years. The performing and confirming bank for letters of credit is German Commerzbank, which participates in joint transactions with IBEC on a regular basis.
Letters of credit provide supplies, subsequent installation and servicing by Polish exporter of industrial equipment for Belarusian food industry enterprises.
IBEC specialists together with Belarusian and foreign partners offered the most favorable conditions for financial support of the transaction and for support of Polish exports, which suited all the counterparties.
This is currently a record trade finance documentary transaction organized by IBEC in cooperation with Belarusian banks and the largest off-balance transaction. The bet on the development of trade finance instruments in the updated IBEC development strategy already brings significant results. The bank is confidently occupying this niche area of trade finance, effectively ensuring the growth of foreign trade turnover in its member states.