The EBRD’s Trade Facilitation Programme celebrated two signings during the Bank’s Annual Meeting in May in London.
Ukrsibbank, a subsidiary of BNP Paribas S.A. in Ukraine, signed an issuing bank agreement and revolving credit agreement worth $10 million which will allow the bank to utilise TFP through guarantees in the documentary business as well as through direct funding in form of cash disbursements for pre-export and post-import activities of the local borrowers of the bank.
Raffeisenbank Moscow signed a restatement agreement worth $20 million allowing for the streamlining of the utilisation of the existing lines after the merger of Raiffeisenbank with Russia’s Impexbank.
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.
118 issuing banks in the region participate in the programme together with around 750 confirming banks globally. Recently the limit of the programme has been increased up to €1.5 billion as a crisis response measure.