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05 Nov 2019
New IBEC reimbursement deal

New IBEC reimbursement deal

The International Bank for Economic Co-operation continues to actively develop instruments to support foreign trade operations of its clients. IBEC acted as a reimbursing bank under a letter of credit issued by Golomt Bank(Mongolia), providing financing for the supply of food products to Mongolia from Poland. This operation ensured the implementation of the contract between the two member countries of the Bank, demonstrating the effectiveness of the financial infrastructure which is being created by IBEC for its clients.   Read more

28 Oct 2019
International Bank for Economic Cooperation finances Balkan Stream

International Bank for Economic Cooperation finances Balkan Stream

The International Bank for Economic Co-operation has provided a loan to Bulgartransgaz EAD, which is a combined operator performing licensed activities of natural gas transmission and storage in Bulgaria. The loan agreement was signed at the Bulgarian Embassy in Moscow in the presence of the Ambassador Extraordinary and Plenipotentiary Mr. Atanas Krastin on October 22 - the 56th anniversary of the IBEC foundation.   Read more

23 Oct 2019
IBEC begins cooperation with Armenia

IBEC begins cooperation with Armenia

International Bank for Economic Co-operation for the first time implemented a deal with a bank from Armenia. Ardshinbank, which is a new partner, is one of the three leading national financial institutions. The first step in cooperation between the two banks was taken at the end of September 2019, when the General Financing Agreement was signed. This made it possible to promptly agree on the terms of the first transaction, and already in mid-October IBEC provided Ardshinbank with pre-export financing in the amount of 3.5 million euros for a period of up to six months to credit the export of fruits and vegetables to Russia.   Read more

11 Oct 2019
IBEC activates its presence in Mongolia

IBEC activates its presence in Mongolia

The Memorandum of Understanding between IBEC and DBM Leasing, a subsidiary of the Mongolian Development Bank, was signed at the Moscow office of the Bank by the IBEC Chairman of the Board Denis Ivanov and the President of DBM Leasing Purevsuren Ganbat. The new partner of the bank specializes in leasing operations in infrastructure areas such as transport, agriculture, mining, the supply of medical equipment, focusing, inter alia, on supporting foreign economic activity. The memorandum determines areas of future cooperation – IBEC intends to provide credit resources and contribute to the successful implementation of investment projects in Mongolia with the support of DBM Leasing. The head of the company, Purevsuren Ganbat, expressed confidence that the partnership between the two organizations in the foreseeable future will be brought into practice and will contribute to the development of the Mongolian economy and foreign trade.   Read more