Ipak Yuli Bank joins EBRD Trade Facilitation Programme

An agreement between Ipak Yuli Bank and the European Bank for Reconstruction and Development was signed in London as part of the Trade Facilitation Programme (TFP). Following the meeting held on April 13, Ipak Yuli officially obtained the status of a confirming bank, the bank’s press service reported.

This status grants the financial institution the right to guarantee payments on international transactions, serving as an additional protection mechanism for domestic entrepreneurs when dealing with foreign partners.

Participation in the programme gives the bank’s clients direct access to documentary business services, including letters of credit and bank guarantees backed by EBRD support. The move is expected to strengthen the bank’s position in servicing foreign trade operations.

Integration into the EBRD programme is also aimed at improving the efficiency of products such as Tradeloan and factoring. These instruments allow businesses to optimise cash flow: Tradeloan facilitates settlements under targeted contracts, while factoring enables entrepreneurs to receive up to 100% of an invoice immediately after shipment, eliminating waiting periods for payment and freeing up working capital.

Deputy Chairman of the Management Board of Ipak Yuli Bank, Farrukh Iskhakov, emphasized the importance of this step for the development of trade finance.

«Signing the agreement with the EBRD is an important step in the development of trade finance. It will allow us to offer clients more reliable and competitive solutions for international settlements,» he said.

Earlier, Ipak Yuli Bank was also recognised as a confirming bank under the trade finance programme of the Asian Development Bank.

By asset size, the financial institution ranks 12th among 34 banks in Uzbekistan.