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06 Jul 2020
International and national development institutes join efforts to support the economies of Russia and Mongolia: IBEC has funded the development of Mongolia's railway infrastructure by attracting tied funding from Roseximbank JSC

International and national development institutes join efforts to support the economies of Russia and Mongolia: IBEC has funded the development of Mongolia's railway infrastructure by attracting tied funding from Roseximbank JSC

International Bank for Economic Co-operation has provided a targeted loan to the Ulaanbataar Railway (UBTZ) for the purchase of locomotives produced by the Russian Transmashholding JSC. Tied financing for a period of 11 years from Roseximbank JSC with the insurance coverage by EXIAR, successfully attracted in June 2020, allowed the Bank to implement the transaction with the maximum efficiency. This complexly structured financial transaction totaling EUR 40 million ensures the implementation of a long-term investment program to modernize the Mongolian railway infrastructure. Target loan also contributes to an increase in exports from Russia – the purchased main freight two-section diesel locomotives meet the latest environmental and safety requirements for such types of equipment.   Read more

22 Jun 2020
Fitch Ratings confirms Positive Outlook on International Bank for Economic Co-operation

Fitch Ratings confirms Positive Outlook on International Bank for Economic Co-operation

International rating agency Fitch Ratings has confirmed positive outlook on the rating of the International Bank for Economic Co-operation in the context of the ongoing global crisis caused by the COVID-19 pandemic. On March 11, 2020 Fitch Ratings has revised the Outlook on IBEC, namely: Long-Term Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at “BBB-“. IBEC’s Short-Term IDR has been affirmed at “F3”.   Read more

15 Jun 2020
IBEC supports the medical industry in Bulgaria

IBEC supports the medical industry in Bulgaria

International Bank for Economic Co-operation has opened a credit line to the Bulgarian Doverie United Holding, which is part of the Sopharma AD group. The amount of financing is EUR 5 million, the funds will be allocated for the implementation of ongoing projects of the holding enterprises.   Read more

10 Jun 2020
Wide geography of IBEC trade financing

Wide geography of IBEC trade financing

International Bank for Economic Cooperation has funded two more letters of credit for foreign trade contracts for the supply of polypropylene from Vietnam. The total amount is USD 3.5 million. Transactions are carried out in cooperation with the IBEC's permanent and largest partner in the Vietnamese market - Saigon-Hanoi Commercial Joint Stock Bank (SHB).   Read more