Trade Facilitation Programme in Serbia
26 September 2016.
EBRD significantly increases TFP limit for Eurobank
Within its Trade Facilitation Programme (TFP), EBRD has decided to increase its trade finance line from €20 million to €50 million for Eurobank a.d. Beograd to further support trade in Serbia. The increase of trade finance limit is the result of trust this renowned financial institution has in Eurobank and follows positive business results achieved so far within this programme.
Eurobank joined the TFP in 2011 and since then has supported the export and import operations of their clients. The EBRD has named Eurobank a.d. Beograd the most active issuing bank in Serbia in 2014 and 2015.
Henry Russell, EBRD Director for Financial Institutions in the Western Balkans, said: “We are pleased to continue our cooperation with Eurobank, supporting international and intra-regional trade in Serbia and the Western Balkans. The increased trade finance limit will help Eurobank to better meet the trade finance needs of their clients and further expand their activities which will benefit the whole economy.”
Eurobank has been operating in the country since 2003 and is ranked among the leading foreign investors and financial institutions in Serbia. Eurobank a.d. Beograd is part of the Eurobank Group, a European banking organisation with total assets of €72.7 billion, over 16,000 employees and a network of more than 900 branches in Greece and abroad.
“An increase in trade finance line is a great acknowledgment for Eurobank and its systematic, continuous and largely successful efforts in the realisation of granted financial funds. We feel very honoured to be a reliable and stable partner for EBRD. This is also a very important message for all our clients who have successfully realized their projects within this programme. We are looking forward to continuing our cooperation with EBRD and further enhancing the international trade,“ said Slavica Pavlović, President of the Executive Board of Eurobank.
Launched in 1999, the TFP aims to promote foreign trade and currently includes over 100 partner banks in 27 of the countries where the EBRD invests, with limits exceeding €1.5 billion in total and more than 800 confirming banks worldwide.
Since the start of its operations in Serbia, the EBRD has invested around €4.4 billion in over 200 projects across the country. The Bank invests in the financial sector, industry, commerce, agribusiness, energy and infrastructure.