EBRD supports trade finance through Credit Agricole Ukraine
New facility to support export-import activity,
and enhance cross border cooperation
EBRD, Kyiv, Ukraine
Tue, March, 29, 2016
The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Ukrainian exporters and importers, extending an uncommitted trade facility of up to €10 million to Credit Agricole Ukraine (CAU) under its Trade Facilitation Programme (TFP).
The Trade Facilitation Programme promotes international 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.
CAU, part of Credit Agricole Group, one of Europe’s leading banking groups, is a major domestic bank in Ukraine that has been well established in the country since 1993. The bank provides universal banking services for all customer segments. It has a strong position and long-term expertise in servicing global corporate clients operating in Ukraine, supporting agribusiness companies, and financing international trade.
Since its inception in 1999 the TFP has supported over 1,900 trade transactions worth almost €2 billion in Ukraine. 15 Ukrainian banks have been historically engaged in trade transactions under the TFP, covering a variety of export-import contracts between Ukraine and the European Union and even remote countries like Argentina, New Zealand and Vietnam.
Through the TFP, the EBRD not only stimulates regional business, but also provides a unique knowledge-sharing platform for the market professionals. To date the Bank’s Trade Finance e-Learning Programme has had a major impact on the Ukrainian banking sector - over 350 Ukrainian bankers have received scholarships and completed online trade finance training which equipped them with the necessary know-how to conclude more sophisticated trade transactions.
The EBRD is the largest international financial investor in Ukraine. As of 1 January 2016, the Bank had a total cumulative commitment of approximately €12 billion in 355 projects throughout the country.