UniBank announced that it has joined the GTFP (Global Trade Finance Programme) of the International Finance Corporation, in the format of which the Bank is awarded with a termless revolver credit line for trade finance in the total amount of $1.5 mln. Trend reports.
This credit line will enable UniBank to confirm documentary operations for the export and import projects, projects with terms of up to one year will be financed under the credit line. UniBank, however, has also been allowed to finance projects with terms of up to 18 months and to the total amount of $500,000.
The receipt of the funding from the IFC is a sign of the Bank implementing the policy for loans from the world capital markets. It will be remembered that the European Bank for Reconstruction & Development had awarded UniBank with the credit line in the amount of $1.5 mln. for support to guarantees and letters of credit.
The new credit line taken from the IFC is to help expand UniBank's practice in this particular financing area.