EBRD provides USD 20mn trade finance facility to VTB Kazakhstan.

By bne IntelliNews April 25, 2011
The European Bank for Reconstruction and Development (EBRD) is providing a new USD 20mn trade finane guarantee facility to VTB Kazakhstan, a subsidiary of Bank VTB of Russia. The funds will help to facilitate the financing of foreign trade, especially transactions with longer maturities at a time when lending to the real economy remains limited. The funds will also help VTB Kazakhstan to support more importers and exporters in Kazakhstan and to increase the volume of trade between Kazakhstan and other countries of the region. VTB Kazakhstan started its operations in 2009. The bank is set to develop as a universal bank servicing both large corporate clients as well as medium sized business and retail customers.

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