IIB took part in the Russian-Hungarian business forum on cooperation in the field of agriculture

 IIB took part in the Russian-Hungarian business forum on cooperation in the field of agriculture

On March 23, 2021, as part of the development of mutually beneficial bilateral ties between the business communities of the Russian Federation and Hungary, a business conference "Economic cooperation between Russia and Hungary in the agro-industrial sector: key issues." took place.

This significant online even was organised by the Moscow Chamber of Commerce and Industry and the representative office of the Hungarian National Export Development Agency (HEPA).

The forum was attended by heads and representatives of leading Hungarian and Russian agro-industrial enterprises – producers of agricultural goods, equipment and software for the agro-industry, as well as specialized construction and production companies.

Among others, the conference agenda covered such important issues as government initiatives to support exporters of agro-industrial products, current trade finance programs, risk insurance mechanisms, opportunities for attracting investments in agriculture, problems of certification, customs clearance and logistics issues for importers, creation offoreign start-ups and production localisation in Russia.

International Investment Bank was represented at the event by Grigory Gruzinov, the Head of the IIB Moscow Branch, who addressed the participants with the report "On the support of Hungarian exporting enterprises, investments, trade finance programs". Mr. Gruzinov briefly presented IIB activities, spoke about the main directions of the Bank’s strategy in member states, informed the audience about the Bank's projects and programs implemented in support of agriculture.

“For many of the Bank's shareholders the agro-industrial complex and related industries are key sectors of the economy that ensure the food security of these countriesand form a significant share of GDP, employment and exports,” noted Grigory Gruzinov. “Today IIB actively offers to agricultural enterprises such products and services as project finance, technical modernization programmes, support for export-import operations and trade finance. At the moment, the share of the Bank's projects aimed at supporting the agricultural industry of its member states constitutes over 10% of the IIB's loan and documentary portfolio and is estimated at more than EUR 107 mln."