Today, for the first time, the International Investment Bank contributed to trade between its member states and Turkey, having issued its first deal with Aktif Investment Bank A.S. (Turkey) in favour of Turkish company BETONSTAR MAKİNE SAN.VE TİC.A.S. The Bank thus supported delivery of truck mounted concrete pumps to the Russian Federation from the Republic of Turkey.

The Bank issued an irrevocable reimbursement undertaking by the order of PJSC NBD Bank for its client to Aktif Investment Bank A.S. The payment under letter of credit will be used for purchase of equipment for an automobile plant in Nizhniy Novgorod.

By supporting export-import operations, the Bank, in the first place, contributes to the development of trade relations between its shareholders and to their integration into the global economy, in line with its mission, and, crucially, to the growth of trade between the IIB members and third countries, thus significantly expanding geography of its activities.

IIB’s participation in this trade finance transaction reflects the intensification of the Bank’s efforts aimed at expanding operations under the Asian direction.

Reference

PJSC NBD Bank – universal Russian bank with shareholders including such organisations as the EBRD. International ratings: Moody’s – B1.

Aktif Investment Bank A.S. (Turkey) – Turkey's largest privately owned investment bank. JCR Eurasia Rating A.Ş. – «ВВВ-».

BETONSTAR MAKİNE SAN.VE TİC.A.S. – the leading Turkish producer of concrete pumps.