IBEC Trade finance in the construction industry

2020 0901 IBEC 01The International Bank for Economic Co-operation has provided a trade related loan in the amount of EUR 982 thousand for a period of 6 months to the First Investment Bank JSC (Russia).

The funds provided by IBEC will be used to finance the supply of equipment for the production of aluminum profiles from China to the Russian Federation. Thus, by providing the opportunity to purchase the necessary equipment in the Asian region, the Bank contributes to the development of the construction industry in the Russian Federation in conditions of limited supplies.

Support for the SME sector has traditionally been a priority for the Bank and this operation is no exception given the size and specialization of the buying company.

In the new international economic realities, it is especially important for the Bank to remain a reliable partner for its member countries and provide assistance in the implementation of trade operations with other countries. IBEC is not subject to sanctions and in its activities traditionally pays special attention to compliance procedures and compliance with existing sanctions restrictions.

International Bank for Economic Co-Operation News

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