News

International Bank for Economic Co-operation acted as a partner in the export program for the export of Polish pharmaceutical products. IBEC confirmed the standby letter of credit issued by Alfa-Bank CJSC, Belarus. The beneficiary of the transaction is the largest Polish company operating in the pharmaceutical field.

International Bank for Economic Co-operation is actively developing business in the Asian region. The bank has already implemented the second deal since the beginning of the year with the Vietnamese Saigon-Hanoi Commercial Joint Stock Bank (SHB).

Negotiations with the management of the Joint Stock Company Ulaanbaatar Railway (URTZ), one of the largest infrastructure companies in Mongolia, took place at the headquarters of International Bank for Economic Co-operation. The meeting was dedicated to the participation of IBEC in financing the investment program of modernization of the UBTZ, which was also attended by representatives of PwC, financial adviser of the UBTZ.

IBEC has issued reimbursement obligations under two letters of credit of Belarusbank for a total amount of 15.5 million euros. The commitment period is two years. The performing and confirming bank for letters of credit is German Commerzbank, which participates in joint transactions with IBEC on a regular basis.