The European Bank for Reconstruction and Development (EBRD) announced the continuation of support in Tajikistan on Monday, through a new trade finance facility in partnership with AccessBank.
The bank also sponsored a workshop session, so that the country's commercial banks were updated on the International Standard Banking Practices (ISBP) set by the International Chamber of Commerce (ICC). Both items are provided through the banks Trade Facilitation Program (TFP).
“We are very pleased that AccessBank Tajikistan, which the EBRD co-founded and which already partners with us to support [micro, small and medium-sized enterprises (MSME)], will now also be able to support Tajik companies trading with foreign partners through our trade facilitation program," Head of the EBRD Dushanbe Office, Richard Jones, said.
The TFP exists within 23 countries through partnerships with over 100 banks and other financial institutions. It provides guarantees for local banks and administers supply lending to smaller banks and other financing bodies in countries where it serves.
Nearly $320 million has been invested into Tajikistan by the EBRD.