On the 21st of March 2018 during the International Conference “Belarus: Trade Finance 2018” Belarusbank and European Bank for Reconstruction and Development (EBRD) signed the Confirming Bank Agreement under Trade Facilitation Programme.
Through the Programme the EBRD provides guarantees to international confirming banks, taking the political and commercial payment risks of international trade transactions undertaken by issuing banks in EBRD’s countries of operations.
Participation in the Programme will allow Belarusbank to secure letters of credit, issued by foreign banks in favor of our bank’s clients – exporters of Belarusian products.
Taking into consideration Belarusbank’s large share of servicing of exports of the Republic of Belarus (more than 26% for the year 2017), a wide range of Belarusian entrepreneurs will get financial support and an opportunity to reduce risks of nonpayment for exported products.
Belarusbank has always been open for implementation and development of new competitive instruments and cooperation schemes, adopting for contemporary business environment. Joining the Programme by the largest Belarusian bank will strengthen its ability to provide trade financing and with the support of EBRD stimulate regional business.
About the European Bank for Reconstruction and Development
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated.