The Chinese authorities wanted to avoid currency exchange risks
attached with the use of the US dollar and the Pak rupee.
It will also allow local borrowers, whose revenue streams are predominately in somoni (the currency of Tajikistan), to take medium-term loans in local currency, thus eliminating currency exchange risks
MHI has been looking to fortify its global business structure to attract more orders and at the same time evade currency exchange risks
The end of currency exchange risks
and costs helped integrate European markets, boosting trade between member states, a move that helped German small business in particular.
With this three-year senior loan, the EBRD is increasing the availability of medium-term local currency lending to entrepreneurs in Kyrgyz Republic, especially in the country's remote rural areas, and helping them avoid taking on currency exchange risks
dollar as its legal tender, virtually eliminating any currency exchange risks
to foreign companies operating there.
29 per cent which is based on on lower euro money rates but with no currency exchange risks
It will also allow local borrowers, whose revenue streams are predominately in somoni, to take medium-term loans in local currency, thus eliminating currency exchange risks
The local currency portion of the loan is provided under the EBRD's new Local Currency Lending Programme in early transition countries (ETC), which aims to support private sector development by ensuring the Kyrgyz borrowers, including local enterprises, banks and microfinance organisations, avoid taking on currency exchange risks
The move is designed to reduce currency exchange risks
and curb the firm's reliance on commercial banks in financing, the sources said.
According to John Rwangombwa, the governor of the National Bank of Rwanda, by borrowing in local currency, businesses were protected from currency exchange risks
The loan to Converse Bank falls under two important EBRD initiatives: (i) the Armenian Multi-Bank Framework Facility II (MBFF II) which aims to support the sustainable development of the country s banking sector with a special focus on supporting micro, small and medium-sized enterprises and (ii) the Local Currency Lending Programme in Early Transition Countries (ETC LCY), which aims to further private sector development by providing long-term financing and ensuring that Armenian borrowers, including local enterprises, banks and microfinance organisations, avoid taking on currency exchange risks