IBEC develops complex trade finance products
International Bank for Economic Co-operation actively uses a diversified line of trade finance products, putting together instruments of financial and non-financial export support in member states and CIS.
In particular, IBEC, on behalf of OJSC Belagroprombank, which is a stable partner in the Belarusian financial market, completed a confirmation transaction followed by post-financing of a letter of credit in the amount of more than 1 million US dollars with a total term of operation of up to 2 years. Financing is aimed at supporting the export of Russian agricultural products to the Republic of Belarus.
A sustainable partnership of both banks consists in usage of a wide range of credit and documentary instruments to ensure export-import operations of their clients: targeted trade loans for import and pre-export financing, interbank reimbursement transactions, confirmation of letters of credit, including post-financing ones.
An operational approach to the requests of regular customers makes the documentary service in the field of trade finance demanded and effective, contributing to the growth of foreign trade activity between the Republic of Belarus and IBEC member states.
IBEC and Belagroprombank OJSC note further development of cooperation. Since the beginning of 2020, banks have implemented joint transactions which worth more than 5 million euro in equivalent to support customers participating in foreign economic activity in the agricultural, chemical and food industries.