Commerzbank – the EBRD’s top confirming bank for the 18th consecutive year
In May 2022, Commerzbank was named the Most Active Confirming Bank for 2021 as part of the European Bank for Reconstruction and Development’s (EBRD) annual Trade Facilitation Programme (TFP) Awards.
The EBRD Trade Facilitation Programme (TFP) honoured its most successful partner banks 2021 in the context of the Bank’s 2022 Annual Meeting in Morocco.
With a record annual volume of more than €3.2 billion in 2021, the TFP supported international trade via almost 2,000 transactions. The TFP makes it easier for local companies to import equipment, raw materials, and other goods necessary for their business by supporting local banks in their provision of trade finance. Before the awards, at the TFP Information Session, discussions focussed on the need to support international trade affected by Russia’s war on Ukraine; the development of trade finance in North Africa and the Middle East; and the importance of trade for low-carbon transition.
The event was opened by EBRD President Odile Renaud-Basso, who stressed the importance of keeping global trade going. “The Trade Facilitation Programme is well known for being a community built on close relationships and friendships. Forums such as these demonstrate how we stand united,” she said.
The TFP Awards honour the most active issuing and confirming banks during the past year in delivering EBRD financing across its countries of operations. Launched in 1999, the TFP aims to promote foreign trade to, from, and between the countries in which the EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers, and distributors.