OREANDA-NEWS. December 29, 2007. European Bank for Reconstruction and Development approved of the increase of TCB's non-committed facility under TFP from USD 30 up to USD 50 mln, TCB's press service reported. The maximum validity of EBRD's guarantees to be issued under TFP to support TCB's customers' export-import transactions is up to 3 years. At present, TCB utilize TFP for financing of import of capital goods (e.g. equipment for SME customers) and for arrangement of pre-export and post-import finance including local distribution of imported goods (e.g. purchase and distribution of imported cars, consumer electronics, mobile phones and etc. in Russia).

TCB joined EBRD's Trade Facilitation Program in June 2004. Using TFP instruments enables TCB to enlarge the range of banks-partners on the international market as well as the geography of its trade finance operations, and to decrease the costs of financing as well as to attract new customers.

The increase of the amount of EBRD's TFP limit contributes to rise of TCB's competitive capacity on the Trade Finance market and strengthening TCB's ability to continue successful business development. At present TCB enjoys clean credit lines from its international counterparties and ECAs with a total volume of up to USD 550 mln.