Limits and tenors for the agreement on issuing trade finance guarantees between JSB «ORGRESBANK» and EBRD were increased

04.10.2005

Limits and tenors for the agreement on issuing trade finance guarantees between JSB «ORGRESBANK» and EBRD were increased

Within the framework of the Agreement on issuing trade finance guarantees, European Bank of Reconstruction and Development has made a decision to increase the total limit for JSB «ORGRESBANK» up to EUR 18 mln. and the maximum instruments tenor – up to 2 years. 

The Agreement on issuing trade finance guarantees under EBRD Trade Facilitation Program was signed by EBRD and JSB “ORGRESBANK” in February 2005. Since than, EBRD issues guarantees in favor of international confirming banks, accepting the payment risks under export and import transactions, conducted by JSB “ORGRESBANK.” Orgresbank became the 20th Russian bank approved for participation in the Program as the issuing bank.


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