BPS-Sberbank signed an open agreement with the European Bank for Reconstruction and Development (EBRD) to join the program for confirming banks. The document was concluded during the annual TFP event which took place in London as part of the EBRD Annual Meeting and Business Forum, BelTA learnt from BPS-Sberbank.

The EBRD Trade Facilitation Program has been running successfully in 23 countries of the CIS, Central, Eastern and Southern Europe, Africa and Asia since 1998.

Under the agreement with the EBRD BPS-Sberbank provides guarantees to foreign banks, taking the political and commercial payment risk of international trade transactions of its clients. The advantages of the service are lower risks of non-payment for the exported products, an increase in sales through providing foreign partners with more flexible payroll schemes on contract.

“Joining the EBRD program for confirming banks has become a logic continuation of BPS-Sberbank cooperation with international financial organizations and foreign credit institutions. The bank has been successfully cooperating with the EBRD in its trade facilitation program as an issuing bank and in the micro, small and medium-sized financing agreement,” the bank said.

BPS-Sberbank is one of Belarus’ leading banks serving private individuals and corporate customers. The bank has its outlets in every region of the country. BPS-Sberbank is a member of Sberbank of Russia Group, the largest bank in Russia and the CIS

 (BelTA)