News

A delegation of the International Bank for Economic Co-operation headed by the Chairman of the Board Denis Ivanov visited the Joint Institute for Nuclear Research (JINR) in the city of Dubna. During the visit, a meeting with JINR Director Grigory Trubnikov and leading employees of the Institute took place, after which the Bank's representatives were shown the progress of work on the implementation of the flagship project – the NICA complex.

Fitch Ratings-London has revised the ratings of International Bank for Economic Co-operation (IBEC). Long-Term Issuer Default Rating (IDR) was upgraded to ‘BBB’, with Stable outlook. IBEC Short-Term rating has been upgraded to ‘F2’. In the context of the global socio-economic crisis caused by the COVID-19 pandemic, ratings upgrades are extremely rare and atypical for the international financial organizations (IFO). IBEC is only the second IFO to be upgraded by Fitch rating agency since the beginning of 2020.

International Bank for Economic Co-operation has disclosed its 2020 financial results in accordance with the International Financial Reporting Standards and Ernst&Young auditor’s report.

International Bank for Economic Co-operation provided a long-term loan to the Russian State Transport Leasing Company (GTLK) in the amount of 480 million rubles. At the expense of the IBEC financial resources, three localized aircrafts of the Czech brand L-410 were purchased and subsequently transferred into operation. This light aircraft is manufactured at the Ural Civil Aviation Plant in Russia.