KYIV, July 4 – The European Bank for Reconstruction and Development (EBRD) has opened a new trade finance facility of up to $40 million to state-owned Ukrgasbank (Kyiv) as part of the Trade Facilitation Program (TFP), according to an EBRD press release.

"The facility will be partially earmarked for factoring operations to support the development of this product by Ukrgasbank. The facility will contribute towards further commercialization of a major state-owned bank," the report says.