IIB develops trade finance operations with non-member states

IIB develops trade finance operations with non-member states

International Investment Bank (IIB) continues to develop trade finance operations between the Bank’s member states and other countries. In early August, with the participation of the Belorussian Bank JSC “Bank Dabrabyt” and the Russian PJSC “Credit Bank of Moscow”, IIB implemented a pilot transaction in support of deliveries of perfumes and cosmetics from the Russian Federation to the Republic of Belarus.

Bank Dabrabyt joined the IIB Trade Finance Support Program (TFSP) as an issuing bank, while Credit Bank of Moscow entered in TFSP as a confirming bank.

Within the TFSP, IIB supports export of high-tech equipment for food, textile industries, mechanical and power engineering and other production sectors of the Bank's member states.

Supporting export of consumer goods is also among the key priorities of the IIB Program.

International Investment Bank (IIB) was founded in 1970. Currently, the Bank’s member states are Bulgaria, the Czech Republic, Hungary, Cuba, Mongolia, Russia, Romania, Slovakia and Vietnam. IIB credit ratings: S&P Global Ratings ratings - A- (stable outlook), Moody’s - A3 (stable outlook), Fitch - BBB+ (stable outlook) and Dagong - A (positive outlook). The IIB headquarters is located in Budapest (Hungary).

JSC "Bank Dabrabyt" (Republic of Belarus) - founded in 2000 (formerly Bank Moscow-Minsk). The main shareholder of the bank is the National Bank of the Republic of Belarus.

PJSC "Credit Bank of Moscow" (Russia) – is a universal commercial bank founded in 1992, included by the Bank of Russia in the list of TBTF banks. Assigned ratings: ACRA - A (outlook - stable), Expert RA - A (outlook - stable), Fitch - BB (outlook stable), S & P Global Ratings - BB- (outlook stable), Moody’s - Ba3 (outlook stable).