National Bank of Greece announced the signature of an agreement with the European Bank for Reconstruction and Development (EBRD) that will help support Greek trade under the EBRD Trade Facilitation Programme (TFP).
An NBG announcement said that the bank was continuing its efforts to support the economic activity of outward-oriented Greek businesses, being the first to sign an agreement with EBRD for the trade facilitation programme and placing an extra solution at the disposal of the market to balance the difficulties faced by trade partners to accept Greek risk.
“Supporting the expansion of trade finance in Greece is critically important for the revival of the country’s economy. We are pleased to welcome National Bank of Greece into our TFP and strengthen our co-operation with the bank also in the area of trade. The programme will help National Bank of Greece to better meet its clients’ trade finance needs and further expand their activities, which will benefit the whole economy,” noted EBRD president Suma Chakrabarti who visited Athens.
New tools and partnerships
Leonidas Fragiadakis, CEO of National Bank of Greece, commented: “National Bank of Greece, which has the lowest loan-to-deposit ratio among Greek banks, continues to finance the economy by developing new tools and partnerships with the aim of revitalising economic activity.
“We are ready to use our expertise and long-standing tradition in trade finance for the successful implementation of the programme.”
The facility will assist the National Bank’s efforts to enhance its trade finance activities and reaffirm its position as preferred trade partner, supporting the activities of exporters, importers and distributors of imported goods in Greece.
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