OREANDA-NEWS. Importers and exporters in Ukraine will have more opportunities to finance their foreign trade business following Ukreximbank’s decision to join the EBRDґs Trade Facilitation Programme (TFP) as Issuing Bank and Confirming Bank, reported the press-centre of  EBRD.


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 euro, 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 Bankґs guarantees have covered a trade volume of 280 million euro, including imports of small machinery and equipment from Germany, foodstuff from Russia, textiles from Italy or household appliances and consumer electronics from Austria. Ukreximbankґs 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.