Business news

MINSK, 20 February (BelTA) – The European Bank for Reconstruction and Development (EBRD) has lifted the borrowing ceiling by $3 billion for the BNB-Bank trade financing operations, BelTA learned from the press service of the BNB Bank.

"The limit has been expanded due to the growing volume of transactions and the bank's active cooperation with the EBRD under the Trade Facilitation Program (TFP). In line with the program aimed at promoting international trade, the EBRD provides guarantees to international commercial banks, taking the risk of foreign trade transactions of partner banks and providing them with targeted loan resources," representatives of the BNB-Bank said.

The total loan granted to the BNB-Bank is currently $14 million.

With the BNB-Bank joining the Trade Facilitation Program in 2011, the bank's clients got an opportunity to finance their foreign trade operations with the help of the resources of the European Bank for Reconstruction and Development and also foreign banks under the EBRD's guarantees. The total volume of trade finance operations of the bank under this program has already exceeded $35 million.