TASHKENT, Uzbekistan, April 17. Uzbekistan’s
Ipak Yuli Bank has signed an agreement with the European Bank for
Reconstruction and Development (EBRD) under the Trade Facilitation
Programme (TFP), Trend reports via the Uzbek bank.
According to the statement, the new status enables Ipak Yuli
Bank to issue guarantees for international trade transactions,
strengthening risk mitigation for participants in foreign economic
activity and enhancing the reliability of cross-border
settlements.
Participation in the programme provides the bank’s clients with
broader access to trade finance instruments, including letters of
credit and bank guarantees backed by the EBRD. This, in turn,
supports the expansion of international trade financing and
reinforces the bank’s role in servicing clients engaged in foreign
trade.
Furthermore, obtaining the status of an EBRD confirming bank
increases the credibility of these instruments and widens
companies’ access to global markets.
