Support for the export of Russian wheat

  • Mongolia, Russia
  • Trade and Development Bank of Mongolia (TDBM)
  • 2020
  • EUR 12 mln
  • Agriculture
  • International Bank for Economic Co-operation takes part in the financing of Russian wheat export. IBEC has issued a reimbursement undertaking in the amount of EUR 7.2 million for a period of more than a year as security for a letter of credit from the Trade and Development Bank of Mongolia. The confirming and financing bank for the letter of credit is VTB Bank (Europe) SE, which is a part of internationally present VTB Group.
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