Background

The first guarantee transaction with the Republic of Belarus

International Bank for Economic Co-operation is expanding the range of trade finance instruments with partners from the Republic of Belarus, using efficient and customer-friendly transaction schemes. The Bank issued a payment guarantee under 100% coverage by the counter-guarantee of the Belarusky Narodny Bank. Guarantee period – one year, transaction amount – 0.4 million euro.

This is the first transaction of such format supported by a Belarusian bank. The operation is aimed at financing the export of pharmaceutical and cosmetic products from Poland to Belarus. Thanks to cooperation with BNB-Bank OJSC, many clients of which have active cooperation with the Polish business, IBEC financial instruments are becoming more recognizable and in demand on the Polish market.

BNB-Bank OJSC has recently become an IBEC partner in the Belarusian financial market, but banks are already actively expanding the list of instruments and sectoral diversification of trade finance operations. Since the start of cooperation in 2019, the volume of transactions has exceeded 1.1 million euro.

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