OREANDA-NEWS. February 10, 2009. Priorbank JSC has been evaluated as “Most active Trade Finance Bank in Belarus in 2008” within the Trade Facilitation Programme of the European Bank for Reconstruction and Development (EBRD), reported the press-centre of Priorbank. 

The award ceremony took place at the EBRD Annual Shareholders Meeting in London. 19 countries and 643 banks took part in the programme.

Trade Facilitation Programme covers the region of the Central and Eastern Europe and is aimed at supporting and developing intra-regional and international trade. Through this programme the EBRD guarantees payment under trade finance instruments, taking the risks of the issuing banks, and offers direct financing of the selected banks in its countries of operations in the form of short term cash advances.

The banks, which financed the highest quantity of foreign trade transactions, were presented among the award nominees. Priorbank became the participant of the EBRD programme in 2000 and in 2003 signed the Revolving Credit Agreement. Presently the bank actively uses the attracted resources from the EBRD for letters of credit and guarantees, export programmes financing in the spheres of oil refinery, telecommunications, construction materials production, and packaging.