The Global Trade Liquidity Program is a unique coordinated global initiative that brings together governments, development finance institutions, and private sector banks to support trade in developing markets and address the shortage of trade finance resulting from the global financial crisis.
The Global Trade Liquidity Program begins operations in May 2009, channeling much-needed funds to back trade in developing countries. With targeted initial commitments of $5 billion from public sector sources, the program should be able to support up to $50 billion of trade. It raises funds from international finance and development institutions, governments, and banks, and it works through global and regional banks to extend trade finance to importers and exporters in developing countries.
The program has received commitments of $1 billion from IFC, a member of the World Bank Group and from other governments including the U.K., Canada, and the Netherlands. Standard Chartered Bank and South Africa's Standard Bank are the first banks to participate in the program.
"We welcome the tremendous degree of cooperation
between public and private sector institutions that allows us to
come together to launch the Global Trade Liquidity Program
for developing countries. I welcome G-20 support for this timely
and targeted solution that will provide trade finance
to support businesses across developing markets."
—Robert B. Zoellick, President, World Bank Group
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