Founded in 2007, SBERBANK Kazakhstan offers a wide range of banking products, serving over 10,000 corporate and more than 101,000 retail clients throughout the country. It is the first foreign subsidiary of the Russia-based SBERBANK to join the EBRD’s Trade Facilitation Programme (TFP) as an Issuing Bank. SBERBANK of Russian Federation joined the TFP programme in 2000.

The EBRD facility will support SBERBANK Kazakhstan in enhancing its trade finance services and will facilitate transactions with longer maturities.

“Through this transaction the EBRD is addressing the unmet demand for trade finance in Kazakhstan, supporting further development of trade in the region in the current market conditions. With the signing of this agreement, SBERBANK Kazakhstan becomes our new partner bank in the country”, said Rudolf Putz, Head of EBRD’s Trade Facilitation Programme.

“By joining the Trade Facilitation Programme as an Issuing Bank SBERBANK is gaining access to medium-term up to 3 years and long-term up to 5 years guarantee facility for our customers, participants of foreign-trade activity, at lower rates than classic financing, which will facilitate their business development”, commented Oleg Smirnov, Chairman of the Board, SBERBANK Kazakhstan.

The EBRD's Trade Facilitation Programme promotes foreign trade to, from and within the EBRD countries of operation, including Kazakhstan. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.

According to the Trade Facilitation Programme’s 2009 annual results, Kazakhstan ranked fourth among all EBRD countries of operation in terms of the number of transactions, after Russia, Georgia and Ukraine.

The EBRD is the largest financial investor in Kazakhstan, having committed to date over €2.8 billion through 135 projects in various sectors of the country’s economy.