For the 10th time in a row since 2004, the EBRD (European Bank for Reconstruction and Development) has awarded Commerzbank for being the "most active bank under the Trade Facilitation Programme/TFP in 2013". For 14 years now, Commerzbank has confirmed L/Cs or guarantees issued by EBRD’s financial institution partners under the TFP and since then has received the EBRD Stand-By/LC as collateral. Commerzbank´s export/import business with "Mittelstand-clients" directly benefits from the Trade Facilitation Programme.
101 issuing banks in 19 countries in the Commonwealth of Independent States and Central Eastern Europe have used Commerzbank as confirming bank under the TFP. Commerzbank´s clients in Central Asia, the Transcaucasian Region, the Ukraine, Moldova, Russia and Central and Eastern Europe are the most active counterparts in the TFP with EBRD.
Since its establishment in 1991, the EBRD has become the largest financial investor in its region of operations, which stretches from Central Europe to Central Asia and the Southern and Eastern Mediterranean. With the ability and willingness to bear risk on behalf of its clients, they help their countries in the region to become open market economies. The EBRD is owned by 64 countries, the European Union and the European Investment Bank. They invest in projects, engage in policy dialogue and provide advisory services to enterprises.
Interview with Per Fischer
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