TASHKENT, Uzbekistan, April 17. Uzbekistan’s Ipak Yuli Bank has signed an agreement with the European Bank for Reconstruction and Development (EBRD) under the Trade Facilitation Programme (TFP), Trend reports via the Uzbek bank.
According to the statement, the new status enables Ipak Yuli Bank to issue guarantees for international trade transactions, strengthening risk mitigation for participants in foreign economic activity and enhancing the reliability of cross-border settlements.
Participation in the programme provides the bank’s clients with broader access to trade finance instruments, including letters of credit and bank guarantees backed by the EBRD. This, in turn, supports the expansion of international trade financing and reinforces the bank’s role in servicing clients engaged in foreign trade.
Furthermore, obtaining the status of an EBRD confirming bank increases the credibility of these instruments and widens companies’ access to global markets.