(MENAFN) Ukrgas Bank in Ukraine and UAE’s Mashreq Bank have finished the initial deal on organized exchange finance, according to Ukrgas Bank’s media briefing.
The statement includes: “Ukrgasbank has started cooperation with Mashreq Bank, one of the leaders on the UAE banking market, and has already concluded the first agreements on structured trade financing. The amount of transactions totals about 35 million U.S. dollars, for a term of up to 60 days. This means that Ukraine will import petroleum products for further processing and exports of already finished products.”
The International Finance Corporation backed the deal, Mashreq Bank played as a supporting bank.
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