VTB Bank (Armenia) included in EBRD's Trade Facilitation Program

PanARMENIAN.Net - VTB Bank (Armenia) and the European Bank for Reconstruction and Development (EBRD) signed an agreement on Trade Facilitation Program (TFP). 



As the press office of the VTB bank reports, within the framework of TFP the bank is provided the revolving credit line to finance foreign trade transactions of clients through letters of credit and guarantees, as well as direct funding. 



Trade Facilitation Program, implemented by EBRD, is aimed at maintaining international trade. Under this program, EBRD provides guarantees to international commercial banks, taking the political risk and commercial risk of default for transactions initiated by banks included in the list of countries where EBRD operates (including Armenia). Many banks, actively promoting their trade financing seek to be involved in this program. 



This year this is the third program implemented by the EBRD jointly and with participation of VTB Bank (Armenia). 



Armenia became a member of the European Bank for Reconstruction and Development (EBRD), on December 7, 1992 with equity participation of 10 million euros. Today, the EBRD, one of the largest investors in Armenia, has implemented more than 52 programs in the country. 



VTB Bank (Armenia), the fourth largest bank in terms of total assets, plays an important role in the banking sector in Armenia.