ArmInfo. The European Bank for Reconstruction and Development (EBRD) included Converse Bank in the list of confirming banks under the Trade Finance Program (TFP). As noted in the message of Converse Bank, the respective agreement was signed on November 14, 2024.
According to the Chief Financial Officer, Deputy CEO of Converse Bank Hrant Hakobyan, the status of Confirming Bank is highly significant in terms of stimulating trade financing in Armenia and the entire region. "As a confirming bank for the EBRD TFP, Converse Bank will leverage its expertise in trade finance and its extensive network of international partners to provide comprehensive financial solutions to businesses engaged in cross- border trade. This partnership not only highlights Converse Bank's commitment to supporting the growth of businesses but also underscores its dedication to promoting economic prosperity of the market," he noted. Hakobyan added that Converse Bank offers its customers comprehensive solutions in international trade finance operations, ensuring maximum efficiency of transaction structuring and financing alongside with covering non-payment risks. Moreover, the Bank provides assistance and guidance to its customers throughout the entire trade finance transaction cycle, providing consultancy at the trade contract negotiation's stage and deal structuring up to financing of the project.
Let us recall that the first Armenian banks to be assigned the status of Confirming Bank within the TFP program by the EBRD were Ameriabank (May) and Araratbank (June) in 2013.
