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07 Oct 2019
Another factoring deal

Another factoring deal

Cooperation between International Bank for Economic Co-operation and National Factoring Company bank , one of the largest Russian players in this sector of financial services, continues its active development. Another transaction was implemented – to finance factoring payments for a period of 3 months.   Read more

23 Sep 2019
IBEC – new instruments and new partners in the field of trade finance

IBEC – new instruments and new partners in the field of trade finance

IBEC for the first time acted as a reimbursing bank under a letter of credit of Golomt Bank (Mongolia). The pilot transaction is being implemented under the Agreement, signed in June this year by IBEC Chairman Denis Ivanov and President of Golomt bank Ganbold Galsan, and is aimed at facilitating the procurement of automotive components from Japan to Mongolia.   Read more

12 Sep 2019
Sustainable vector of cooperation with Belagroprombank to support export-import operations

Sustainable vector of cooperation with Belagroprombank to support export-import operations

IBEC has implemented another set of trade finance deals with Belagroprombank, one of its largest partners in the banking sector of the Republic of Belarus. IBEC provided financing in the amount of 3 million euros to pay for deliveries of Russian petrochemical products to Belarus. Pre-export financing transaction in the amount of EUR 0.7 million was also implemented to ensure the production of components and spare parts for the Russian automobile industry by the Belarusian enterprise for a period of up to 6 months.   Read more

12 Sep 2019
IBEC Factoring Debut

IBEC Factoring Debut

The International Bank for Economic Co-operation has begun the practical implementation of transactions for the development of international factoring. The first deal was closed on September 11th. IBEC provided financing to the National Factoring Company (NFC) Bank for the implementation of export factoring operations under a contract for the supply of Russian metallurgical products to Poland. It is noteworthy that the launch of a new product for the Bank goes in line with the support of foreign trade between the countries participating in the Bank, one of the key components of the IBEC mandate.   Read more