HALKBANK Skopje signed EUR 10 million trade finance agreement with EBRD to support Macedonian Export
Halkbank Skopje signed EUR 10 million agreement with EBRD’s Trade Facilitation Programme (TFP) to support Macedonian export orientated companies.
The purpose of the TFP is to facilitate the export arrangements of the Macedonian companies. The facility features very competitive terms including pricing, tenor and minimum amounts and has two components – short term trade loans and issuance of guarantees in favor of international commercial banks covering the political and commercial payment risk of the underlying trade finance instruments. In addition, Halkbank Skopje will also benefit from the EBRD’s award-winning technical cooperation projects in trade finance.
“This is the first agreement for short term trade finance loans we signed on the Macedonian market and is addition to the already existing mechanism for guaranteeing trade finance instruments that we offer via several local banks. We are glad that Halkbank will channel these funds to the Macedonian exporters and will provide another opportunity to support exports of products produced by the local companies. We very much appreciate Halkbank’s commitment to support local economy and by being one of the most active banks, we considered them one natural counterpart when it comes to introducing new products on the market” said Anca Ioana Ionescu, Head of EBRD Skopje Resident Office.
The cooperation between Halkbank and EBRD exists since 1997. One of the most significant agreements signed between both institutions is the EUR 6 million credit line signed in 2010, dedicated to financing energy efficiency and competitiveness support projects. This line was successfully utilized in full. Launched in 1999, the TFP aims to promote foreign trade to, from and among the countries in which the EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors. The TFP currently includes over 120 partner banks in 25 countries where the Bank invests, with limits exceeding €1.5 billion in total, and more than 800 confirming banks worldwide.