YEREVAN, May 27, /ARKA/. During the EBRD’s Trade Facilitation Programme award ceremony held as part of EBRD Annual General Meeting 2010 on May 15 in Zagreb, Croatia, Ameriabank signed an issuing bank agreement, thus becoming a member of the Trade Facilitation Programme network.
The agreement will allow Ameriabank to expand and promote financing of international trade transactions of its clients, Ameriabank said in a statement.
Under the facility, the EBRD will guarantee trade finance instruments issued by Ameriabank on behalf of its Armenian clients in favor of international commercial banks, effectively mitigating risks for the Confirming banks.
Ameriabank has thus become the tenth bank in Armenia to participate in the EBRD’s TFP. Overall there are currently 121 Issuing banks in 20 countries of operations of EBRD and over 750 Confirming banks worldwide which represent the TFP network on the intraregional and international level.
Ameriabank is one of the most dynamic banks in Armenia and ranked among the country’s most stable financial institutions. It is one of the first investment banks in Armenia, and since 2007 has been providing an extensive list of innovative banking products and services specifically tailored to meet its customers’ needs.
The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia.-0-
