OREANDA-NEWS. October 25, 2010. The EBRD is increasing support to Ukrainian exporters and importers through its Trade Facilitation Programme (TFP) now available to VTB Bank (Ukraine). The USD 50 million trade finance line for VTB Bank (Ukraine) will facilitate exports and imports, reported the press-centre of EBRD.

The EBRD's Trade Facilitation Programme promotes foreign trade to, from and within the EBRD countries of operations, including Ukraine. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.

By supporting this transaction, the Bank is expanding its successful cooperation with VTB Group, which began in 1999. VTB Bank (Ukraine), a Russia’s bank VTB subsidiary, where VTB owns 99.97 per cent stake, is one of the few commercial banks in Ukraine that continued lending despite the economic downturn in the country. Even more importantly, VTB Bank (Ukraine) is planning to expand its operations here in the aftermath of the crisis.

The EBRD believes that the addition of a strong and committed financial intermediary to the TFP will support the revival of the external trade, contributing to the economic recovery. The project is part of the Bank’s strategy to facilitate lending to the real economy in Ukraine.

According to the Trade Facilitation Programme’s annual results, Ukraine ranked third (after Russia and Georgia) among all EBRD countries of operation in terms of number of trade transactions supported in 2009.

The European Bank for Reconstruction and Development is the largest financial investor in Ukraine. As of 1 October 2010, it had committed over EUR 5.1 billion through 204 projects.  

VTB Bank (Ukraine) is one of the most dynamically developing banks in Ukraine. It ranked the 7th largest by assets and equity as well as the 4th largest by corporate loan portfolio in Ukraine, according to the NBU ranking as of 30 June 2010. VTB Bank (Ukraine) is a part of international financial group VTB presented in 19 countries. VTB (Russia) is on the list of TOP-500 biggest companies in the world.