The trade activities of Lebanese businesses are set to receive a helping hand; the EBRD has extended a trade finance limit of up to US$ 75 million to Byblos Bank, Lebanon’s third-largest lender.
The facility will help Byblos to diversify its trade finance business, increase available limits and offer longer-term maturities to its customers.
By joining the TFP, Byblos Bank will gain access to a community of over 100 issuing and 800 confirming banks worldwide, expanding its corresponding banking network and international business opportunities.
The facility extended to Byblos Bank will be the EBRD’s fifth in Lebanon since the start of operations there in 2017. To date, the Bank has invested almost €500 million in the country with a focus on supporting private sector competitiveness, promoting a sustainable energy supply and enhancing the quality and efficiency of public service delivery.
The EBRD has extended a trade finance limit to Byblos Bank of up to
US$ 75 million