OREANDA-NEWS. June 28, 2010. The European Bank for Reconstruction and Development (EBRD) has named Priorbank Belarus’ most active trade finance bank within the Trade Facilitation Program (TFP) in 2009.

The award was presented during the EBRD Annual Meeting and Business Forum in Zagreb.

The EBRD’s Trade Facilitation Program promotes foreign trade with Central and Eastern Europe and the CIS. Through the program, the EBRD provides guarantees to international confirming banks. In so doing, it takes the political and commercial payment risk of transactions undertaken by issuing banks in the countries where the EBRD operates. The program can guarantee any genuine trade transaction associated with exports from, imports to, and between the EBRD’s countries of operations.

Twenty-seven countries participated in the program together with 600 confirming banks throughout the world in 2009.

Priorbank joined the Trade Facilitation Program in 2000 and since then has been using resources of EBRD programmes to confirm letters of credit, guarantees, and finance export programs.