Eurobank EFG supports trade finance through the EBRD Trade Facilitation Program
16 February 2011.
Eurobank EFG highlights the importance of exports as a key driver of innovation and growth and supports export orientation of the Serbian economy
Eurobank EFG has signed an Agreement with the European Bank for Reconstruction and Development (EBRD) for participation in its Trade Facilitation Programme that could reach up to EUR 50 million, which will enable further support to the trade activities of Eurobank EFG’s clients.
The Trade Facilitation Programme is a powerful business development tool providing:
- cover for a broad range of trade finance instruments
- unconditional guarantees payable on first written demand
- guarantees of up to 100% of the face value of the underlying trade finance instruments
- uncommitted trade finance lines and transaction approval
- attractive fee levels that are agreed separately for each transaction
- a fast and simple approval procedure to issue guarantees
The Trade Facilitation Program covers all potential and existing clients that actively participate in foreign trade and need additional securities for export and import operations.
Eurobank EFG anticipates increasing interest by Small and Medium Enterprises (SMEs) and by Large Corporate clients in the program and aims at providing them with improved services under favourable conditions for foreign trade activities.
The agreement with EBRD is part of the initiative of Eurobank EFG to support the export orientation of the Serbian economy, in line with the efforts of the Serbian authorities to pursue a new growth model for Serbia. Besides this agreement, Eurobank EFG has been very active in the field by supporting the “Exporter of the Year” award, organized by the Serbian Investment and Export Promotion Agency (SIEPA) and by having introduced a wide range of products and services aimed at the improvement of the exporters’ business operations.
It is worth noting that this agreement of Eurobank EFG with EBRD further enhances the strong cooperation between the Eurobank EFG group and the EBRD in the broader region of Central and Southeast Europe.Eurobank EFG is a member of Eurobank EFG Group, a European banking organization with total assets of €86.5bn (9M2010). The Group employs more than 22,500 people and offers its products and services both through its network of over 1,600 branches and points of sale, and through alternative distribution channels in Greece, Bulgaria, Serbia, Romania, Turkey, Poland, Ukraine, United Kingdom, Luxembourg, and Cyprus. It is a member of the EFG Group, an international banking group with presence across 40 countries.