As a result of active cooperation in the Trade Facilitation Programme of the European Bank for Reconstruction and Development, for the fifth time Priorbank was awarded as «The most active bank in the financing of foreign trade in Belarus» in 2011. The ceremony award for the best banks-participants was held on the May 17, 2012 in London at the Annual Meeting of the EBRD.
Nominated for the award were banks who participated in the program and who funded the largest number of foreign trade transactions. Priorbank became a member of the programme in 2000, and in 2003 signed an agreement with the EBRD on revolving credit. Now these tools are widely used by the bank to confirm letters of credit, guarantees, export financing programs in the sectors of oil refining, telecommunications, building materials, packaging.
«Interaction at this level confirms the status of Priorbank as a reliable and effective partner for the European Bank for Reconstruction and Development. The distinction our bank received of course inspired us to further develop and achieve new heights. We will continue our further fruitful cooperation with EBRD and make all necessary efforts to meet the needs of our clients in trade finance», - said Sergey Kostyuchenko, Chairman of the Board "Priorbank" JSC.
The EBRD Programme focues on the region from Central Europe to Central Asia and seeks to maintain and develop intra-regional and international trade. As a part of this Programme, the European Bank for Reconstruction and Development provides guarantees on trade and financial instruments, taking on the risks of the issuers, issues short-term loans to eligible banks in a number of countries of operations. Currently, the program involved 700 confirming banks in 23 countries.