IBEC guarantees promote Russian-Uzbek trade
International Bank for Economic Co-operation has supported the export of Russian industrial products to Uzbekistan. The guarantee in the amount of USD 5 million was issued in favor of CREDIT BANK OF MOSCOW (RF) on behalf of Agrobank (Uzbekistan) as a security for a loan provided to finance foreign trade contracts.
Implemented deal is a good example of the opportunities presented by trade finance instruments in supporting exports. The high quality and service offered in this area by IBEC are attracting more and more clients, including both financial institutions and representatives of industry and trade.
Credit Bank of Moscow, one of the largest Russian banks, highly appreciated the convenience and efficiency of the products offered by IBEC. This deal marked the beginning of cooperation between financial institutions in the field of trade finance.
The Uzbek Agrobank also used IBEC trade finance instruments for the first time, which should contribute to their promotion in the promising market of Uzbekistan.