As an investment bank with strong support to trade and economic cooperation, the International Investment Bank (IIB) has launched the Trade Finance Support Programme (TFSP) as a marketing tool to provide effective solution to approach new markets without any geographic restrictions. The TFSP promotes economic integration and economic cooperation between IIB’s member states and other countries.
Participating in this programme provides banks with a lot of benefits including a cover for a broad range of trade finance instruments; unconditional guarantees payable on first written demand; guarantees for up to 100 percent of the face value of the underlying trade finance (TF) instruments; attractive fee levels agreed separately for each transaction, and a fast and simple approval procedure to issue TF instruments.
At present, there are more than thirty (30) issuing banks from Russia, Belarus, Georgia, Vietnam, and Mongolia participating in the TFSP. And in 2016, IIB has issued its thirty five (35) TF deals supporting export from Czech and Slovak Republic, Hungary and Vietnam as well as import to Russia and Mongolia from Germany, France, China, and Turkey for a total amount of EUR24.4 million. Clients of IIB’s strategic partner and IIB Observer – Russian Export Centre – are also heavily supporting the TSFP.
As an innovative programme, TSFP allows IIB to provide effective solution to approach new markets without any geographic restriction.
IIB’s TSFP won the 2017 Outstanding Development Project Awards under the Trade Development Category.