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28 Jun 2019
Developing partner relations with Golomt bank (Mongolia)

Developing partner relations with Golomt bank (Mongolia)

With reference to the Master Financing Agreement concluded between International Bank for Economic Co-operation (IBEC) and Golomt Bank (Mongolia) in 2018, IBEC has extended a one-year trade related loan to the Mongolian counterparty in the amount exceeding EUR 500 thousand in the equivalent. The money will be used for financing Mongolian import of South Korean FMCG and nonfood goods. The transaction continues the series of IBEC interbank deals for Mongolian companies’ foreign trade support.   Read more

26 Jun 2019
Long-term Partnership Between IBEC and MGIMO University

Long-term Partnership Between IBEC and MGIMO University

International Bank for Economic Co-operation and the Moscow State Institute of International Relations (MGIMO University) of the Ministry of Foreign Affairs of the Russian Federation concluded an agreement on partnership and cooperation. The document was signed by Denis Ivanov, Chairman of the IBEC Board, and Vladimir Morozov, MGIMO Vice-Rector for Human Resources.   Read more

21 Jun 2019
IBEC expands portfolio of documentary operations

IBEC expands portfolio of documentary operations

IBEC added confirmation on two letters of credit issued by Belagroprombank OJSC (Belarus) in favor of Russian suppliers of agricultural products. The total amount of letters of credit is more than 83 million Russian rubles (about 1.1 million euros in the equivalent). The use of the Russian ruble as transaction currency reflects IBEC course for more active use of member states currencies. Having ample opportunities for cross-country payments in national currencies, IBEC provides its clients with additional protection against exchange rate risks, reducing transaction costs and simplifying implementation of foreign economic operations.   Read more