Credit Agricole Bank joined the EBRD Trade Facilitation Programme (TFP) as an issuing bank and was provided with EUR 10m line for confirmation of letters of credit and re-issuing guarantees with international banks participating in TFP as confirming banks. Political and commercial payment risk of the transactions undertaken by Credit Agricole Bank will be covered by EBRD.
Credit Agricole Bank has been for years a partner of the EBRD TFP as a confirming bank - first, under framework agreement between EBRD and Credit Agricole CIB, and then on the basis of direct agreement with EBRD.
Jean-Paul Piotrowski, Credit Agricole Bank CEO, welcomed the extension and strengthening of the partnership with the EBRD and stressed the importance of the TFP as a development tool for the bank, its customers and economy of Ukraine. “Credit Agricole Bank will be able to extend the list of trade finance solutions in its offer, our customers will be able to get trade finance services wherever they need them and Ukraine will get support in consumer and industrialized good trade so needed to revitalize its economy”, - he said.
The Trade Facilitation Programme promotes international trade to, from, and within the EBRD countries of operations, including Ukraine. Since the inception in 1999 the TFP has supported over 1,900 trade transactions worth over EUR 2 bn in Ukraine.
About the Bank:
PJSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third - in project financing in Europe. CREDIT AGRICOLE has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including VIP clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of CREDIT AGRICOLE in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 442 000 private and 35 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations.