The European Bank for Reconstruction and Development has entered into a partnership with the British financial development organization British International Investment (BII) and the French development agency Proparco in the field of trade finance in Ukraine.
The press service noted that the institutions will provide the EBRD with risk-sharing guarantees under the Trade Facilitation Program, under which the EBRD supports trade finance in Ukraine. The volume of these guarantees will be up to $37 million from BII and $20 million from Proparco.
The new agreement builds on the cooperation in private sector investment that the development finance institutions agreed last year. It will expand the EBRD’s ability to support Ukraine’s export and import operations so that the country can continue to trade with international partners and provide essential goods and services to its people.
Since the beginning of russia’s war against Ukraine, the EBRD has supported over €1.4 billion in trade transactions under its Trade Facilitation Program (TFP), which has brought essential goods into the Ukrainian economy. Trade is one of the EBRD’s five investment priorities in Ukraine, along with energy and food security, as well as support for vital infrastructure and the private sector.
The bank’s press service said that BII, which is supported by the UK government, is an impact investor with more than 75 years of experience investing in emerging economies. Its mission is to help solve the world’s biggest development challenges by investing long-term, flexible capital to support private sector development and innovation. BII currently has investments in more than 1,580 companies in 65 countries and total net assets of £8.5 billion.
Proparco is part of the French Development Agency (AFD) Group and has been financing the private sector for over 45 years, supporting sustainable economic, social and environmental development. The Agency provides financing and support to businesses and financial institutions in Africa, Asia, Latin America and the Middle East.
According to the EBRD, over the 30 years of its operation, the bank has become the largest institutional investor in Ukraine and has attracted more than €22 billion in more than 600 projects.
Source: https://mind.ua/
