News

The International Bank for Economic Co-operation continues to support trade operations of the SME sector in its member countries. The bank has supported a loan deal between the Mongolian Golomt Bank and the Russian Moscow Credit Bank (MKB). Golomt Bank, one of the leaders in the Mongolian banking sector and a traditional partner of IBEC, raised funds from MKB to finance the trade operations of its clients including small and medium-sized enterprises.

The International Bank for Economic Co-operation has replenished its treasury portfolio with securities from Central and Eastern Europe. The total volume of purchases amounted to EUR 30 million, of which 23 million are securities for IBEC's own portfolio. Investments have replenished the loan and investment portfolio and the “development portfolio” of IBEC.

The International Bank for Economic Co-operation and the Joint Institute for Nuclear Research (JINR) have signed a Cooperation Agreement. Two international organizations, financial and scientific, have 8 common members – all the IBEC member countries are also members of JINR. Therefore, the development of a partnership naturally fits into the logic of serving the interests of participants. It is symbolic that the signing of the document took place within the framework of the 136th Council meeting of the International Bank for Economic Co-operation. Due to pandemic restrictions, the IBEC Council is once again held online, so JINR representative, the director of the Institute, Academician of the Russian Academy of Sciences Grigory Trubnikov, also signed the agreement via remote access.

The roundtable "Multilateral Development Banks in the Post- COVID Period: Old Challenges and New Opportunities" was held within the framework of the St. Petersburg International Economic Forum. The event was held under the patronage of the Ministry of Finance of the Russian Federation, it was attended by representatives of international financial organizations, where Russia is a member state – the World Bank, the Eurasian Development Bank, the Black Sea Trade and Development Bank, the Asian Infrastructure Investment Bank, the largest national development institute VEB.RF, and the largest Russian banks. The International Bank for Economic Co-operation was represented by its Chairman of the Management Board, Denis Ivanov, who acted as one of the key speakers.