EBRD increased LOCKO-Bank credit facility to $95 m as part of trade facilitation program.

European Bank of Reconstruction and Development (EBRD) increased Bank’s credit facility opened as part of Trade Facilitation Programme (TFP) to US$95 m. The increase of EBRD credit facility shall strengthen Bank’s positions in the financing of foreign trade contracts of the clients.

The agreement on the participation of LOCKO-Bank in Trade Facilitation Programme was signed in September 2005. To maintain the growth of trade financing of the Bank the credit facility for this program has been increased several times. In May 2008 EBRD and LOCKO-Bank signed Revolving Credit Agreement as part of FTP programme which enabled the Bank to refinance rouble loans extended to foreign trade companies. Apart from refinancing LOCKO-Bank offers trade financing services with the use of the following instruments: letters of credit, guarantees, special purpose financing of foreign banks secured by (Export Credit Agencies (ECA). The most popular are trade finance transactions: they are cheaper than regular loans; the mitigation of commercial risks of a client and its foreign partner, the possibility to refinance 100% of the cost of import contract as well as comprehensive transaction support of international part of the deal by LOCKO-Bank specialists enables to minimize expenses for foreign trade and to complete the deal in the shortest possible time.

In 2009 EBRD declared LOCKO-Bank "The Most Active Russian Issuer Bank in Short Term Funded Trade" and in 20110 – “The Most Active Russian Issuer Bank in Short Term Funded Trade with Taiwan in 2010”: 43% of the portfolio were the transactions with suppliers from South-East Asia. Almost one third of the portfolio is represented by financing of food imports, household appliances and computer equipment are No. 2 and construction and decoration materials are No. 3.

Apart from TFP LOCKO-Bank also develops diversified cooperation with EBRD: Bank’s portfolio contains subordinated loan for US$ 20 m, 340 m roubles loan for financing of small and micro businesses and 500 m roubles loan for financing of SME segment.