EBRD channels more resources to support trade finance in Ukraine through Raiffeisen Bank Aval

By Anton Usov


 
The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Ukrainian exporters and importers by increasing financing available under its Trade Facilitation Programme (TFP) to Raiffeisen Bank Aval by US$ 80 million to US$ 150 million.
 
The EBRD's Trade Facilitation Programme promotes foreign trade to, from and within the EBRD countries of operations, including Ukraine. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations. 
 
Raiffeisen Bank Aval – a long-term financial partner of the EBRD in Ukraine – has been for two decades promoting and supporting such important EBRD banking products as small and medium business finance, energy efficiency and renewable energy lending as well as trade finance.
 
The Bank’s Trade Facilitation Programme currently works with eight local banks in Ukraine to enable their private corporate clients to continue international trade. The TFP has supported trade transactions worth € 1.57 billion in Ukraine to date, of which over € 240 million has been processed in 2014 so far.
 
The EBRD is the largest financial investor in Ukraine. As of December 2014 the Bank had committed almost €10 billion (US$ 12.4 billion) through 342 projects in the country.