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Vneshtorgbank won an award from EBRD

 
5 May 2004

Vneshtorgbank received on 19 April 2004 an award from European Bank for Reconstruction and Development (EBRD) for the activities within the framework of the Trade Facilitation Programme.

Vneshtorgbank was recognised as the Most Active Russian Bank in Intra-Regional Trade Finance under the EBRD Programme.

The giving ceremony took place in the course of an Annual Meeting of Shareholders of EBRD.

Vneshtorgbank is one of major Russian banking institutions to handle over 10% of the Russian foreign trade volume. This award is another testimony of Vneshtorgbank`s international recognition.

Vneshtorgbank enjoys positive experience of co-operation with EBRD in a variety of domains, including, that under the Trade Facilitation Programme and Agro-Industries Support Programme (intended for agro-producing and agro-processing companies).

Vneshtorgbank became the first Russian bank to be included in the EBRD Trade Facilitation Programme under which EBRD grants guarantees for Vneshtorgbank`s obligations (letters of credit and guarantees) and makes loans for pre-export finance purposes of VTB`s customers for up to a 3 year term.

During its participation in a variety of EBRD programmes, Vneshtorgbank issued guarantees and made loans to Russian exporters and agro-producers out of facilities raised from EBRD totalled more than US$325 million.


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