Background

Support for Russian metallurgical exports

International Bank for Economic Cooperation continues its policy of supporting the export potential of the participating countries. The Bank completed transactions to ensure the supply of Russian metallurgical products to Uzbekistan – steel pipes produced by the Chelyabinsk Pipe Plant.

IBEC has confirmed two letters of credit for a total of USD 1.3 million issued by Uzpromstroybank, which is one of the Bank's leading partners in the Central Asian region. ChelPipe accepts direct confirmation from IBEC under letters of credit – in the second half of the year, 5 transactions totaling USD 3.2 million have already been completed. IBEC's trade finance products prove their effectiveness and attractiveness for partners from various regions and sectors of the economy.

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