EBRD Names Bank of Georgia Most Active Issuing Bank in 2015

TBILISI – European Bank for Reconstruction and Development (EBRD) has named Bank of Georgia as the country’s most active issuing bank for 2015.

The Bank of Georgia was awarded in a framework of the awarding best providers of trade financing in the world program.

The EBRD’s TFP, launched in 1999, promotes foreign transactions to, from and amongst the bank’s countries of operation and offers a range of products to facilitate trade.

Through the program, the EBRD provides guarantees to international confirming banks by taking the political and commercial payment risk of international trade transactions undertaken by banks in those countries where they have an active issuing presence.

The EBRD has thus far supported over 18,400 transactions, totalling more than €12.8 billion.