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Ukreximbank joins the Trade Facilitation Programme
Importers and exporters in Ukraine will have more opportunities to finance
their foreign trade business following Ukreximbank’s decision to join the
EBRD´s Trade Facilitation Programme (TFP) as Issuing Bank and Confirming Bank.
The EBRD’s Trade Facilitation Programme promotes foreign trade with Eastern
Europe and the CIS region. Through the programme, the Bank provides guarantees
to international confirming banks. The programme can guarantee any genuine
trade transaction associated with exports from, or imports to, the EBRD's
countries of operations. More than 100 issuing banks in the region participate
in the programme together with around 630 confirming banks globally. Turnover
exceeded €3.3 billion, which has been used to finance more than 6,000
transactions.
In Ukraine the EBRD has, since the start of the programme in 1999, facilitated
trade through 9 issuing banks and 104 confirming banks, financing more than
550 foreign trade transactions with exporters and importers in 52 countries.
The Bank´s guarantees have covered a trade volume of €280 million, including
imports of small machinery and equipment from Germany, foodstuff from Russia,
textiles from Italy or household appliances and consumer electronics from
Austria.
Ukreximbank´s decision to join the TFP also as Confirming Bank is a further
milestone in the development of the programme, said Kurt Geiger, EBRD
Financial Institutions Team Director. Ukreximbank is a leading trade financier
in the country and its participation will allow the Bank to support more
exports from Ukraine to other EBRD countries of operation in the CIS and
South-East Europe, he added.
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