|
The Trade Facilitation Programme (TFP) of the European Bank for Reconstruction and Development (EBRD) aims at promoting foreign trade with Central and Eastern European as well as CIS countries. Through the TFP, the EBRD provides guarantees to international banks to cover commitments of local banks from trade transactions. The guarantees cover export and import transactions. Switzerland supports the TFP by providing, together with EBRD and other donor countries, Risk Sharing Funds which cover any potential losses that may arise from the guarantees. In addition, these risk sharing funds help local banks to obtain access to international finance, strengthen their trade finance capacities, introduce transparent banking practices, and enable staff to gain experience working with Western confirming banks.
|