20 April 2004
On 19 April 2004, Vneshtorgbank received EBRD award for its participation in the Trade Facilitation Program.
Vneshtorgbank was recognized the Most active Russian bank in intra-regional Trade Finance under the EBRD Program.
The award was presented at the EBRD annual general shareholders' meeting.
Vneshtorgbank is one of the largest Russian banks, serving more that 10% of Russia's foreign trade turnover. The award is a further proof of Vneshtorgbank's recognition on the international arena.
Vneshtorgbank has gained positive experience in cooperating with EBRD along various business lines, including Trade Facilitation and Agriculture Commodity Financing Programs.
Vneshtorgbank was the first Russian bank participating in the EBRD Trade Facilitation Program, under which EBRD acts as a guarantor of VTB liabilities, including its letters of credit and guarantees, and extends credits for pre-export financing VTB customers for the period of up to 3 years.
Overall, participating in various EBRD programs, Vneshtorgbank has extended guarantees and loans to Russian exporters and agricultural producers using EBRD funds for the amount exceeding USD 325 million.
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