In October 9, 2006 the IFA Commission affiliated JSSB Belarusbank as a member of the IFA. JSSB Belarusbank is the first representative of financial and banking institutions of the Republic of Belarus in it.
The JSSB Belarusbank membership in the IFA is the next step of strengthening bank’s position in the international financial markets. It provides the opportunity to JSSB Belarusbank to receive limits from the largest forfaiting companies- IFA members for more effective export and import financing of JSSB Belarusbank’s clients. It is also possible to prolong the terms of resources attraction, decreasing of its costs in comparison with export contracts financing with ECA cover, and financing of 15% projects prepayment provided financing at the expense of ICL without trade financing limits.
Supplemental information: the International Forfaiting Association was founded in August, 1999 in Zurich (Switzerland). The main aim is development and coordination of forfaiting activities among financial and banking institutions and trade assistants in developing and developed countries. The association listed more than 160 members from 35 countries now.
International Projects Department