VTB recognized as the most Active Bank in Financing Russian Exports in 2006 under EBRD Trade Facilitation Program
28 May 2007
At the Annual meeting and the International Business Forum of the European Bank for Reconstruction and Development (EBRD) held in Kazan, VTB was awarded for participation in EBRD Trade Facilitation Programme and recognized as "The most Active Bank in Financing Russian Exports in 2006".
It is not the first award to be given to VTB by EBRD. Some time earlier, the Bank was named "The most Dynamic Issuing Bank in Trade Financing of Emerging Economies in Europe, Asia, Africa, and Middle East from 1999 to 2005" and "The most Active Bank in Financing Exports under EBRD Programme in 2004".
VTB is a pioneer among Russian banks to be included in EBRD Trade Facilitation Programme (TFP). Under TFP, EBRD acts as a guarantor of VTB liabilities, such as letters of credit and guarantees, for at least 5 years and also provides its customers with financing for pre-export and post-import lending for a 2-year period.
In 2006, within EBRD Programme VTB channeled over USD 130 billion for financing exports from and imports to the Russian Federation by allocating special-purpose loans to Russian businesses engaged in foreign trade.
With its large-scale network including branches throughout Russia and subsidiary banks of the Group in Europe and CIS, VTB annually makes over 700 structured transactions in foreign trade financing totaling over USD 1 billion.
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