AIB Trade Finance Services signed an agreement with the European Bank for Reconstruction and Development (EBRD) to participate in its new Trade Facilitation Programme. The programme, which is aimed at facilitating trade with Central and Eastern Europe (CEE) and the countries of the Former Soviet Union (FSU), will enable AIB Trade Finance Services to assist Irish exporters in reducing or eliminating their risks in trading with buyers in the countries covered under the programme.

The following 27 countries are covered in the programme: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, FYR Macedonia, Georgia, Hungary, Kazakhstan, Krygrystan, Latvia, Lithuania, Moldova, Poland, Romania, Russian Federation, Slovak Republic, Slovenia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan and Yugoslavia.

The programme is designed to cover regional trade between the countries listed above and trade from these countries with the rest of the world.

Under the programme AIB Trade Finance Services will be able to eliminate an exporter's risk in selling to these countries by providing the following services:

• Confirmation of Letters of Credit and Standby Letters of Credit issued by approved banks in favour of Irish companies.
• Issuance of advance payment guarantees at the request of approved banks in favour of Irish importers.
• Discounting of Promissory Notes or Bills of Exchange guaranteed by approved banks and provided to Irish companies as a guarantee of payment.

The Trade Facilitation Programme is accessible to all Irish companies and should contribute to a growth in Ireland's trade with the countries of the CEE and FSU.

Click (here) for a list of the approved banks in the region or visit the EBRD web site www.ebrd.com for further information.

Please refer to our Contact page, if you require further information.