Ukrgasbank joins EBRD Trade Facilitation Programme
Major Ukrainian bank will support trade transactions,
work on further commercialisation
EBRD Ukraine, Kyiv, Ukraine,
Wed, July 3, 2019
- EBRD opens trade finance limit of up to US$ 40 million to Ukrgasbank
- Ukraine’s 4th largest banks will launch factoring operations
- Project to promote commercialisation of a major state-owned bank
- Ukrgasbank is the latest Ukrainian bank to join Trade Facilitation Programme
The EBRD is stepping up its support to Ukrainian exporters and importers by extending a new trade finance facility of up to US$ 40 million to Ukrgasbank to stimulate international and regional trade. Ukrgasbank is the country’s fourth largest bank with a network of nearly 250 branches.
The facility will be partially earmarked for factoring operations to support the development of this product by Ukrgasbank. The facility will contribute towards further commercialisation of a major state-owned bank.
By joining the EBRD Trade Facilitation Programme (TFP), Ukrgasbank will become better integrated into the regional and global economy through the development of stronger trade links and relationships between companies and banks in the EBRD’s region of operations and beyond.
The TFP 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.
Through the TFP, the EBRD not only stimulates regional business, but also provides a unique knowledge-sharing platform for market professionals. To date, hundreds of Ukrainian bankers have received scholarships and completed online trade finance training which has equipped them with the necessary know-how to conclude more sophisticated trade transactions.
The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €13.1 billion across some 430 projects in Ukraine.