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IBEC received BACEE Award for International Partnership

Banking Association for Central and Eastern Europe (BACEE) emphasized long-term partnership with International Bank for Economic Cooperation by the honorary diploma BACEE Award for International Partnership. Award presentation took place on the sidelines of the traditional 38th BACEE Banking Conference in Budapest in the first decade of May.

The key topic of the conference was the economic cooperation of the CIS countries and Central and Eastern Europe, and the role of the financial sector in its development. Among the most topical issues were risk optimization in the context of general instability and sanctions restrictions, new digital technologies as the key to improving efficiency, and development of interbank transactions.

IBEC Chairman of the Board, Denis Ivanov, spoke at the plenary session, focusing on the role of multilateral development institutions in creating a favorable financial climate in the region. Noting that in modern conditions international trade participants are paying more attention to risk management and optimization, Mr. Ivanov presented new opportunities offered by IBEC, including risk sharing mechanisms using a wide network of correspondent banks, co-financing foreign trade transactions using a variety of credit and documentary instruments.

The IBEC Head also announced such promising areas of digital banking business development as an interbank settlement system based on blockchain technology and blockchain platform for trade finance. These specific areas will be discussed in detail at the International Business Forum «Europe-CIS. 4D», organized by IBEC, which will be held on May 28 in Moscow (on participation issues - http://forum2019.ibec.int/).