DUSHANBE, July 12, 2016, Asia-Plus — The European Bank for Reconstruction and Development (EBRD) has recognized Bank Eskhata as the most active issuing bank in Tajikistan.
According to the Bank Eskhata press service, the EBRD honored the most successful participants in its Trade Facilitation Programme (TFP) 2015 in an award ceremony on May 11-12 in London on the sidelines of the Bank’s Annual Meeting and Business Forum.
The event attracted over 200 participants from issuing and confirming banks under the program as well as decision-makers in trade finance to discuss latest trends and developments in trade finance.
Bank Eskhata reportedly receives this award four years running.
The Trade Facilitation Programme (TFP) holds its annual award ceremonies at the EBRD’s Annual Meeting to honor the most active issuing and confirming banks involved in the program. The winners are selected based on the number of guarantee transactions.
Launched in 1999, the TFP aims to promote foreign trade to, from and among the European bank for reconstruction and Development (EBRD)’s countries of operations. Under the program, the EBRD not only provides guarantees to international confirming banks, but also grants short-term loans to select banks and factoring companies for on-lending to local exporters, importers and distributors.
Through the program the EBRD provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations (the issuing banks).
The program strengthens the ability of local banks to provide trade financing and through these banks gives entrepreneurs throughout our countries of operations the support they need to increase their access to their import and export trade.
The TFP currently includes over 100 partner banks in 23 countries where the Bank invests, with limits exceeding €1.5 billion in total, and more than 800 confirming banks worldwide.
Founded in 1993, OJSC Bank Eskhata, with headquarters in Khujand, is a commercial bank, providing a full range of main banking operations. Bank Eskhata”s network has 22 branch offices, 262 banking centers and 139 money transfer locations, in most parts of the country.
Bank Eskhata is Tajikistan’s fifth largest bank by assets, part-owned by the European bank for Reconstruction and Development (EBRD), and with a particular focus on SME financing and support.
