The European Bank for Reconstruction and Development (EBRD) announced on Monday that it would increase its support of Ukrainian imports and exports with additional funding to its Trade Facilitation Program (TFP).
The bank is providing an additional $80 million, amounting to $150 million overall. The funding will be distributed to Ukraine through the Raifeisen Bank Aval.
The TFP helps support trade between member states by taking on the financial and political risks in order to guarantee obligations to international confirming banks. Raiffeisen Bank has been a long-term partner with the EBRD in Ukraine, supporting the bank's projects in financing small and medium-sized businesses, and facilitating energy efficiency and renewable energy.
The EBRD has provided $1.91 billion through the TFP to Ukraine. In 2014, the fund has contributed $292 million of that.
The bank is currently the largest investor in the country. It has committed $12.4 billion over 342 projects in construction and infrastructure improvements.