Ameriabank and Citibank have signed a new trade finance deal.

Ameriabank raised about USD 14 million loan from Citibank. 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.

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’s statement reads.

Ameriabank has an average USD 100 million pool of borrowed funds a year for trade finance purposes.