EBRD Provides its TFP to Access Bank Tajikistan
Monday 30 March 2015
DUSHANBE (Asia-Plus) – The European Bank for Reconstruction and Development (EBRD) provided a new trade finance facility to Access Bank Tajikistan under its Trade Facilitation Program (TFP).
On the same day, jointly with Tajik Banking Association, the Bank held a workshop on the latest rules of International Chamber of Commerce (ICC) on International Standard Banking Practice (ISBP). The workshop, which took place at the National Bank of Tajikistan, was opened by the National Bank’s Chairman, Abdujabbor Shirinov, who said: “We are very pleased to be able to host today’s event which will offer to commercial banks updates and training on the latest changes to the ICC’s ISBP rules and regulations.”
Richard Jones, Head of the EBRD’s resident office in Dushanbe, said: “Technical assistance and trainings such as the TFP workshop are an integral part of the EBRD’s mission in the country. I am very pleased that around 40 trade finance officers and bankers from over a dozen local banks were able to attend the workshop.”
A new TFP facility for AccessBank Tajikistan for the amount of €200,000 was signed alongside the workshop. “We are very pleased that AccessBank Tajikistan, which the EBRD co-founded and which already partners with us to support MSMEs, will now also be able to support Tajik companies trading with foreign partners through our trade facilitation program,” added Richard Jones.
AccessBank Tajikistan’s mission is to become the leading Bank for micro, small and medium-sized enterprises in Tajikistan. All of ts founders are large international investment and financial organizations:
- Access Microfinance Holding AG (AccessHolding) – (63.429%)
- European Bank for Reconstruction and Development (EBRD) – (13.714%)
- International Finance Cooperation (IFC) – (13.714%)
- KfW Development Bank – (9.143%)
Launched in 1999, the TFP aims to promote foreign trade to, from and among the EBRD’s countries of operations. Under the program, the EBRD not only provides guarantees to international confirming banks, but also grants short-term loans to select banks and factoring companies for on-lending to local exporters, importers and distributors.
The TFP currently includes over 100 partner banks in 23 countries where the Bank invests, with limits exceeding €1.5 bln in total, and more than 800 confirming banks worldwide.
Since the beginning of its operations in the country, the EBRD has invested close to $320 mln in Tajikistan across many sectors of the economy.