The program is introduced by the European Bank for Reconstruction and Development.
BPS–Sberbank signed a permanent agreement with the European Bank for Reconstruction and Development (EBRD) in London to join the EBRD program for the confirming banks. Thus, BPS–Sberbank got the opportunity to secure letters of credit opened by foreign banks in favor of the Belarusian exporters — the bank's clients, assuming the risks of clients’ foreign trade transactions.
“The advantage of this service to customers is the reduced risks of nonpayment for exported products, growing sales of export products through more flexible payment schemes contracted with trade finance instruments for foreign partners,” the bank informed.
At the moment, BPS-Sberbank is working with the Bank's program to promote trade as the issuing bank, as well as the Agreement with the EBRD on the financing of micro, small and- medium businesses.
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