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15 Dec 2020
IBEC – growth for stability. Bank’s Council approved a new development strategy for 2021-2025

IBEC – growth for stability. Bank’s Council approved a new development strategy for 2021-2025

The 135th Meeting of the Council of the International Bank for Economic Co-operation was held on December 8. For the first time in the Bank’s history, the meeting was held in a unique videoconference format on the basis of a specialized platform for the meetings of collegial bodies. The only way to conduct it in a pandemic allows us to say that the Council was held simultaneously in all capitals of the IBEC member countries. The new format of the Council, to some extent, contributed to a more lively and intense dialogue, making it possible to connect to the event for many of the extremely busy heads of delegations, who are the leaders of the financial institutions of the member countries, and allowed them not to be distracted by organizational issues. Moreover, the agenda contained both traditional issues of annual performance results and a number of key topics on the further development of the Bank.   Read more

09 Dec 2020
Trade finance deal with Trade and Development Bank of Mongolia

Trade finance deal with Trade and Development Bank of Mongolia

International Bank for Economic Co-operation has implemented the first documentary trade finance transaction (irrevocable reimbursement obligation issuance) with the Trade and Development Bank of Mongolia (TDBM). The reimbursement obligation was issued in favor of one of the leading European banks within the framework of the implementation of a foreign trade contract for the supply of specialized construction and loading equipment to Mongolia – mobile cranes.   Read more