OREANDA-NEWS. On September 30, 2008 Priorbank, as one the first of all Belarusian banks, has participated as an issuing bank within a signed agreement with the International Financial Corporation (IFC) in the Global Trade Financing program, reported the press-centre of Priorbank.

The Global Trade Financing program was created in 2005 and directed to render trade assistance on the financial markets of the countries with emerging economy. Within the Program IFC grants covering non-payment risks coming from the banks of the countries with emerging economy. IFC is ready to offer its guarantee of the trade financial tools such as a letter of credit, payment and other types of insurance arrangements, transferable or simple circulating notes and etc. It will help bank customers to extend business partnership.
 
Priorbank makes an important contribution to developing trade relations of the Republic of Belarus with other countries. Priorbank doesn’t only work with the International Financial Corporation, but also with The European Bank for Reconstruction and Development. Within the Trade Facilitation Program of the European Bank for Reconstruction and Development, which covers the region from Central Europe to Central Asia and is aimed to support and develop local and international trade, Priorbank has been awarded the title of “Most active trade finance bank in Belarus” for the second year in a row. 
 
Within this Program the EBRD guarantees payment under trade finance instruments, taking risks of the issuing banks. What is more, it offers short-term credits to the selected banks which are the Program Participants. At the moment 19 countries and 643 confirming banks participate in the Program.