The International Bank for Economic Co-operation and the Russian Expobank implemented another deal financing import-export operations. The total amount of the IBEC loan was EUR 5 million with a financing period of up to 6 months.
Expobank is a reliable and long-standing partner of IBEC. Mutual cooperation has been going on for more than three years, and the volume of operations in 2021 has already exceeded EUR 20 million. The loans issued imply a wide geographic and sectoral diversification of transactions and are aimed at supporting socially significant sectors of the economy. Thus, the deals are aimed at supporting the import and export operations of Russian companies with Europe, the CIS, the countries of the Middle East and Asia, as well as the United States and South America. Funding was provided both to support the procurement of equipment, including in the field of medicine, and the supply of agricultural products, industrial equipment, including environmental and energy efficient ones.
“Over the past three years, IBEC has been actively expanding its portfolio of trade finance operations aimed at supporting foreign trade operations, including the clients of our partner banks. I am glad to note the dynamic development of cooperation with Expobank in this area within the framework of building up a joint business to support export-import operations of our clients,” – said Denis Ivanov, Chairman of the IBEC Board.