Regional Trade Facilitation Programme (TFP)

approved

Board review dates Framework:12 January 1999 First renewal to the Programme: 31 May 2000 Second renewal: 12 December 2000 Third renewal: 23 October 2001 Fourth renewal: 28 May 2002 Fifth renewal: 2 March 2004 Sixth renewal: 7 February 2006 Seventh renewal: 2 April 2007 Eighth renewal: 12 May 2008 Ninth renewal: 24 February 2009 Tenth renewal: 28 June 2011 Eleventh renewal: 29 May 2013 Twelfth renewal: 25 May 2016 Thirteenth renewal: 22 June 2021 Fourteenth renewal: 12 October 2021 Framework operation supporting financial institutions (or, in the case of factoring, including non-bank financial institutions) and structured in one of the following two ways: 1. Guarantees: issued by the Bank in the form of standby letters of credit ("LCs"), to banks and factors ("Confirming Banks/Factors") to cover the payment risk of banks and factors established in the Bank's countries of operation ("Issuing Banks/Factors") in connection with trade finance instruments ("Eligible Instruments") issued by such Issuing Banks/Factors in support of Eligible Trade Transactions in foreign or local currency; and 2. Cash Advances (i.e., revolving credits): in foreign or local currency to banks and factors ("Borrowers") to finance sub-loans made by such Borrowers to Exporters or Importers for the purposes of Eligible Trade Transactions. The programme aims to support foreign trade with and among EBRD's countries of operations and includes some donor assisted training for Issuing Banks/ Factors in trade finance skill development. The Trade Facilitation Programme (TFP) framework facility was initially approved by the Board from January 1999 for a period of 2 years. Further approvals have prolonged the programme to align with the Financial Sector Strategy of the Bank.