The European Bank for Reconstruction and Development (EBRD) has secured €275,000 from the Canadian Technical Cooperation Fund 2006-2009 to help support trade finance consultancy services for banks in Russia and Ukraine. The recipients of the support are banks which have recently joined the EBRD’s Trade Facilitation Programme (TFP) as issuing banks.
A total of four banks in Russia and two banks in Ukraine have benefited from this year’s trade finance training.
EBRD’s trade facilitation programme provides credit facilities in the form of EBRD guarantees issued in favour of international commercial banks, covering the risk of issuing banks in the region. Through this scheme confirming banks can benefit from EBRD’s triple A credit rating.
Rodovid Bank in Kiev, Ukraine, is one of the beneficiaries of the scheme. Rodovid’s vice-president for international business, comments: "We see great the importance of TFP for Ukrainian banks and institutions, and especially for ourselves.
“The programme will allow us to develop and structure international trade finance and will help our clients use all the opportunities of trade finance in their daily business activity. It opens new possibilities for us to work with our clients and to offer them the easiest and cheapest way of financing their activities.”
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