The European Bank for Reconstruction and Development is providing a trade finance limit of $25 million to Privatbank to ensure smooth trade with Ukraine. This was reported by the bank's press service.
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“Food security and trade are priority sectors in Ukraine for the EBRD, which has invested €4 billion in the Ukrainian economy since 2022… The agreement will contribute to the further development of trade finance in PrivatBank,” the message says.
The press service notes that the opening of a trade financing limit for PrivatBank is further evidence of the important role of the EBRD in ensuring uninterrupted trade with Ukraine. Support for trade operations is necessary not only for the movement of critical goods, but also for the flow of funds into the Ukrainian economy.
With Russia's outbreak of a full-scale war in Ukraine in 2022, access to financing for Ukrainian importers and exporters is essential has become more complex, as international banks are not prepared to take on the direct risks associated with financing Ukrainian trade operations.
During this time, within the framework of the EBRD Trade Facilitation Program (TFFP), which is one of the key components of the EBRD’s work in the field restoration of global and regional food and energy supply chains, 355 trade transactions were supported with goods critical to the Ukrainian economy for a total amount of 972 million euros.
