Support instruments from REC and International Bank for Economic Cooperation will become available for green projects
From now on, the financial instruments offered by the REC Group and the International Bank for Economic Cooperation may be used to support green investment projects. The corresponding agreement was signed by Nikita Gusakov, Senior Vice President of REC, General Director of EXIAR, and Denis Ivanov, Chairman of the IBEC Board, on the sidelines of SPIEF 2021.
The document provides for building up cooperation in support of export financing, including investment projects being implemented both in Russia and in the IBEC member countries. At the same time, the emphasis in joint work will be placed on the development of export and infrastructure projects that contribute to the achievement of sustainable development goals. These include renewable energy projects, healthcare development, smart cities, innovation and transport infrastructure.
“Governments and state development institutions in many countries are taking measures to attract additional resources to promote green technologies and improve adaptation to climate change. Russia is no exception. Such projects are extremely important for Russian companies, and we are happy to combine effective financial solutions and the experience of our colleagues from IBEC to implement them. We are confident that the signing of the agreement will be an important step to meet the financial needs of Russian business and will contribute to the implementation of great ambitious projects,” Nikita Gusakov, Senior Vice President of REC.
“IBEC and REC Group institutions fruitfully interact in a number of areas. We already have a lot of jointly implemented projects. I am sure that the signing of the Cooperation Agreement will be an important step to further strengthening our relations. Russia is a member of the IBEC, and we see great prospects in supporting the export of goods and services, primarily contributing to the achievement of sustainable development goals, from the Russian Federation to other IBEC members and third countries. Interaction with REC can give a good synergistic effect for our clients, and we are glad to see such organizations of the REC Group as EXIAR and EXIMBANK of Russia among our reliable partners,” Denis Ivanov, Chairman of IBEC.
The parties also agreed to share information regarding the banking practice for export and trade finance in the IBEC member countries.