Ameriabank and Citibank signed a new trade finance deal, Ameriabank raising about $14 million loan from Citibank. As the Bank reported in a press release, part of the loan has been extended under the existing credit limit opened by Citibank for Ameriabank, while the rest is secured by guarantee of the Asian Development Bank. Ameriabank has the status of issuing and confirming bank under the Asian Development Bank’s Trade Finance Program.
The new facility will secure better and more competitive terms for Ameriabank’s clients engaged in foreign trade.
The source remind that Citibank and Ameriabank have been cooperating for several years during which the number and volume of deals have been continuously growing, which is the best proof of mutual trust and efficiency.
Ameriabank has an average $100 million pool of borrowed funds a year for trade finance purposes, and this deal is another successful one in the scope of trade finance.