Czech out our TFP
With physical events still not possible because of the pandemic, a recent webinar highlighted the EBRD’s support for trade in the Czech Republic
On 17 September 2020, the EBRD’s Business Development and Trade Facilitation Programme hosted a webinar in partnership with the Czech Banking Association to increase awareness of the TFP’s support for trade in the Czech Republic.
The online event was attended by 28 participants, including 10 confirming banks, and was led by Pavel Stepanek, President, Czech Banking Association; Rudolf Putz, Head, TFP; Aimana Hoskins, Principal, Business Development; and Maria Mogilnaya, Principal Banker, TFP.
Pavel spoke about how the Covid-19 pandemic had brought about new challenges to our work and praised the way in which we have all come together to combat these challenges. He also highlighted the important role the TFP has played in the crisis.
Rudolf then gave an overview of the TFP, which has a network of 123 issuing banks in 30 economies where the EBRD invests and more than 800 confirming banks worldwide – 10 of which are in the Czech Republic.
Since 1999 the TFP has supported more than 25,300 trade finance transactions for a total volume of more than €20 billion in trade, including support to 156 transactions with Czech banks and Czech exporters for the total volume of €73.36 million. During the pandemic, the TFP increased its limits for existing issuing banks and established limits for new issuing banks.
Aimana then presented an overview of the EBRD, its robust response to Covid-19 and swift action to implement a broad programme of support to its clients. The EBRD’s Solidarity Package includes a Resilience Framework of €4 billion that provides finance to meet the short-term liquidity and working capital needs of existing clients as well as expanding finance under the TFP with an increased framework limit of €3 billion.
Aimana also highlighted the EBRD’s activities in the Czech Republic since graduation and reiterated the Bank’s commitment to supporting Czech companies expanding into the economies where the EBRD invests.
Lastly, Maria provided an in-depth look at the TFP and its ongoing relationship with confirming banks in the Czech Republic, using case studies to illustrate the Bank’s support. She explained how the pandemic and its economic consequences had presented an unprecedented challenge to the EBRD and its regions.
Demand for the TFP’s services surged and as a result, it has supported almost €2 billion of trade this year, with April reaching €500 million of trade finance in a single month (an all-time record). Importantly, the TFP has been instrumental in supporting trade in medical products to its regions.
The presentation sparked a good number of well-informed questions from participants representing a large contingent from the Czech banking industry.
We would like to thank all those who attended the webinar and hope that this is just the beginning of many new business opportunities with confirming banks in the Czech Republic.
Since 1999 the TFP has supported more than 25,300 trade finance transactions for a total volume of more than €20 billion in trade, including support to 156 transactions with Czech banks and Czech exporters for the total volume of €73.36 million