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The European Bank for Reconstruction and Development (EBRD) has honored Joint Stock Company the State Export-Import Bank of Ukraine (Ukreximbank) for the achievements in promoting EBRD Trade Facilitation Programme (TFP) in Ukraine.

At the ceremony that took place in the Bank’s premises today, on 28 May 2010, Ukreximbank Chairman of the Board Mykola Udovychenko received from the EBRD the Award to Most Active Issuing and Confirming Banks under the TFP in 2009 by number of transactions.

This EBRD Award embraces several categories and is decided by the number and the quality of transactions. Ukreximbank was recognized as the Most Active Factoring Bank in Ukraine in 2009.

In the course of the ceremony, Ukreximbank Chairman Mykola Udovychenko emphasized that factoring remained an essential part of the Bank’s core activity targeted at supporting domestic manufacturers and exporters. “Bearing in mind latest market demands, Ukreximbank constantly advances its product lines and services, including those under various IFI’s programmes.”– said Mykola Udovychenko. “The combination of unified service standards with individual approach to each and every customer enables us to continuously improve competitiveness of the Bank’s products and services”.

Several years in a row Ukreximbank holds market leadership in domestic factoring in Ukraine, with total volume of operations exceeding UAH 1.8 billion in 2009. Ukreximbank was the first Ukrainian Bank to participate in the EBRD factoring transaction under the Trade Facilitation Programme in Ukraine.

Since 2005, Ukreximbank is the member of International Factors Group (IFG).

As announced earlier, on 27 May 2010 the EBRD has increased its TFP facility to Ukreximbank by USD 50 million up to total USD 120 million, including increase in factoring limit to USD 12 million. This was an important step to further facilitate expanding activity by Ukreximbank targeted to support international and intra-regional trade transactions by national manufacturers and exporters.