EBRD raises trade finance support to Bank of Cyprus

The European Bank for Reconstruction and Development has agreed to double the trade finance limit to Bank of Cyprus to €100 million, providing a boost for the country's importers and exporters.

The increase under the EBRD Trade Facilitation Programme will help mitigate the disruptions that severe market conditions have caused in trade and supply chains amid the coronavirus crisis.

It will accommodate the growing demand from Bank of Cyprus’s customers for trade finance instruments by providing guarantees for import, export and local distribution of imported goods.