The EBRD is stepping up its support for Ukrainian exporters and importers by extending a new trade finance facility of up to US$ 40 million to Ukrgasbank to stimulate international and regional trade.
Ukrgasbank is the country’s fourth largest bank with a network of nearly 250 branches.
The facility will be partially earmarked for factoring operations to support the development of this product by Ukrgasbank. The facility will contribute towards further commercialisation of a major state-owned bank.
By joining the TFP, Ukrgasbank will become better integrated into the regional and global economy through the development of stronger trade links and relationships between companies and banks in the EBRD’s regions of operations and beyond.
Through the TFP, the EBRD not only stimulates regional business, but also provides a unique knowledge-sharing platform for market professionals. To date, hundreds of Ukrainian bankers have received scholarships and completed online trade finance training which has equipped them with the necessary know-how to conclude more sophisticated trade transactions.
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 €13.1 billion across some 430 projects in Ukraine.
Ukrgasbank is the country’s fourth largest bank with a network of nearly 250 branches