27 may 2010EBRD TFP Facility to Ukreximbank increased by USD 50 millionJoint Stock Company the State Export-Import Bank of Ukraine (JSC Ukreximbank) widened cooperation with the European Bank for Reconstruction and Development (EBRD) under the Trade Facilitation Programme (TFP).
The EBRD increased its TFP Facility to Ukreximbank by USD 50 million to total USD 120 million. Additional funding will enable Ukreximbank to further stimulate export-import activity in Ukraine and support the development of domestic trading companies at a time when commercial lending is limited.
Having joined the TFP in May2007, Ukreximbank has accomplished TFP transactions for total USD 129 million, including the single largest deal in the TFP history for USD 43.6 million to support infrastructure construction services export from Ukraine to Turkmenistan.
Under the TFP, the EBRD provides guarantees to international confirming banks, taking over political and commercial payment risks of international trade transactions assumed by banks in the countries of EBRD operations.
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