EBRD TFP Awards recognise successful partner banks
The EBRD Trade Facilitation Programme (TFP) has honoured its most successful partner banks in 2020. An awards ceremony took place today during the first virtual TFP Information Session on the sidelines of the EBRD's 30th Annual Meeting.
The awards illustrate the depth and breadth of the EBRD's flagship programme, which has played a vital role in upholding trade in the Bank's regions since the outbreak of the coronavirus pandemic in early 2020.
The programme achieved a record annual volume of over €3.3 billion in 2020. The TFP Information Session, supported by the TaiwanBusiness-EBRD Technical Cooperation Fund, was opened by EBRD President Odile RenaudBasso. She said: "I know I am addressing a truly remarkable audience today. You represent the very best of trade finance talent. You drive the international trade that is so vital for global economic growth, prosperity and peace."
Emphasising the unprecedented disruptions to international trade caused by the global pandemic, she continued: "I know how hard you have all been working since the pandemic struck and I know we will overcome that crisis too."
The TFP Awards Ceremony was introduced by Francis Malige, EBRD Managing Director, Financial Institutions. He said: "As we mark our 30th anniversary, we can take great pride in our achievements.
The TFP has played a key role in supporting the growth of small and medium-sized enterprises that are so crucial for job creation, as well as helping to create greater equality of opportunity across societies. Many of our awardwinning banks today developed their trade finance businesses with our help and have made extensive use of EBRD trade finance as well as our award-winning training programmes. Their success makes us extremely proud."
Discussions first focused on the response to Covid-19. The pandemic greatly disrupted the global economy and world trade. During this period trade finance provided the security needed for the global movement of critical services and goods such as energy, food and medical products.
The EBRD highlighted best industry practices and crisis responses to the global pandemic, during which EBRD economies coped well with trade disruptions and digitalisation, and continued to support green trade.
Green trade was an integral topic of discussion in the Information Session. Kelly Hsieh from the Taipei Representative Office in the United Kingdom noted: "While the world is busy dealing with the pandemic, it is imperative that we do not lose sight of the brewing environmental crisis caused by climate change.
The post-Covid-19 recovery should be a green one, and trade can play a very important role in this. I commend the EBRD's continuing work in fostering green trade through the TFP and its Green Economy Financing Facility."
The Information Session was also a reminder of the importance of digitalisation to promote financial inclusion. The coronavirus pandemic has highlighted the urgent need for inclusive digital solutions to ensure that local banks across the EBRD regions are not left behind in the digital transition.