Serbia’s Addiko Bank joins EBRD’s Trade Facilitation Programme

By Olga Rosca
@olgarosca

Serbia’s Addiko Bank joins EBRD’s Trade Facilitation Programme

  • €10 million line to be used for trade-related guarantees and cash advances
  • Financing to support import and export activities of small businesses and intra-regional trade
  • Facility part of EBRD’s support for growth of Addiko Bank in countries where the EBRD operates

Belgrade, 5 April 2018 – Addiko Bank has joined the EBRD’s Trade Facilitation Programme (TFP), thereby strengthening its trade finance operations.

Under the agreement Addiko Bank becomes an issuing bank, allowing it to obtain the EBRD’s trade finance guarantees and short-term cash advances to support the import and export activities of local companies.

The €10 million EBRD trade finance line will allow Addiko Bank to grow its trade finance business and expand its correspondent banking relationships. The EBRD will also provide technical assistance to support the training of Addiko Bank’s staff working in trade finance.

Addiko Bank was established in 2015, when Advent International and the EBRD acquired the south-eastern Europe banking network of the former Hypo Alpe-Adria-Bank International. The EBRD’s strategy is to help the banking group grow into a first-class financial service provider in the region. Financing under the TFP is part of this effort.

Launched in 1999, the EBRD’s Trade Facilitation Programme aims to promote foreign trade to, from and among the countries in which the EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.

The TFP currently includes 94 partner banks in 26 countries, with limits exceeding €1.5 billion in total and more than 800 confirming banks worldwide.

The EBRD is a leading institutional investor in Serbia. To date, it has invested €4.7 billion across some 200 projects in the country. In 2017 alone the Bank provided over €380 million in more than 20 projects across various sectors of the Serbian economy.