KYIV. March 30 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) has provided an uncommitted trade facility of up to EUR 10 million to Credit Agricole Bank to boost support of Ukrainian exporters and importers under its Trade Facility Programme (TFP).
The bank said in a press release that 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.
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.
The EBRD is the largest international financial investor in Ukraine. As of January 1, 2016, the bank had a total cumulative commitment of EUR 12 billion in 355 projects in the country.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2016 owned 99.9961% of the charter capital of Credit Agricole Bank.
The bank ranked 14th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 21.882 billion, according to the National Bank of Ukraine.
