By Anton Usov
The EBRD is providing a boost to domestic importers and exporters in Ukraine with the provision of a limit of up to €20 million(US$21.97) under the EBRD’s Trade Facilitation Programme (TFP) to PRAVEX BANK.
With almost 150,000 retail, corporate, small and medium-sized clients and a countrywide network of 50 branches across Ukraine, PRAVEX BANK will be well-placed to support domestic companies seeking to expand their trade activities.
The trade finance facility will help PRAVEX BANK finance import and export transactions and further strengthen its trade finance product range.
TFP promotes international trade to, from, and within the Bank’s countries of operations, including Ukraine. Through the programme, the EBRD provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in these countries. TFP provides access to finance for exporters and importers, including small businesses, strengthen local capacity in compliance and advance trade finance skills
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 €13.6 billion (US$14.94billion)through 432 projects in the country.
PRAVEX BANK is a member of Intesa Sanpaolo, a leading European banking group with a worldwide presence and market leader in Italy in all business sectors (retail, corporate, and wealth management). PRAVEX BANK has been serving Ukrainian customers for almost 27 years and offers the entire range of banking services to retail, corporate and institutional customers. PRAVEX BANK became part of Intesa Sanpaolo in 2008.