News

In 2020, International Bank for Economic Co-operation continues to expand in the sector of trade finance, relying on the already existing financial partnerships. Over the past period, from the beginning of the year, two significant transactions were concluded with a longtime partner of IBEC — OJSC Belagroprombank, which was provided with financing in the amount of more than 4 million euro.

International Bank for Economic Co-operation is expanding the range of trade finance instruments with partners from the Republic of Belarus, using efficient and customer-friendly transaction schemes. The Bank issued a payment guarantee under 100% coverage by the counter-guarantee of the Belarusky Narodny Bank. Guarantee period — one year, transaction amount — 0.4 million euro.

The International Bank for Economic Co-operation has entered into a Cooperation Agreement with the Russian Agency of Technological Development. On the part of IBEC, the document was signed by the Chairman of the Board Denis Ivanov and Member of the Board Peter Osvald, on the part of the Agency- by the General Director Sergey Zinchenko. The Agreement provides for joint support for initiatives creating and promoting advanced technologies, cooperation in improving the availability of financial and administrative resources for the implementation of investment projects in Russia and the Bank's member states, and partnership in the information and analytical field. Among the priority sectors for cooperation are engineering, pharmaceuticals, energy, petrochemistry, biotechnology, telecommunications, and the agro-industrial sector.

Denis Ivanov, Chairman of the Board of International Bank for Economic Co-operation, took part in the round table discussion “On the role of development institutions in the context of global financial uncertainty”. The event was held under the auspices of the IBEC’s historical partner, International Investment Bank (IIB), and was attended by representatives of international and national development institutions, the diplomatic corps, Russian ministries and departments, expert community, and media. The meeting was opened by Deputy Finance Minister of the Russian Federation, head of the Russian delegation to the IBEC Council, Sergey Storchak. In his speech, he focused on increasing uncertainty in the global financial system and the institutional mechanisms for its reduction.