IFC and Japan Train African Banks to Boost Trade Finance Capacity
In Washington, D.C.:
Lotte Pang
Phone: (202) 458 0952
E-mail: lpang@ifc.org
In Nairobi:
Houtan Bassiri
Phone: +254 20 275 9436
E-mail: HBassiri@ifc.org
Kinshasa, Democratic Republic of Congo,
September 17, 2009—IFC, a member of the World Bank Group, is providing
training in trade finance to bankers in the Democratic Republic of Congo
to help banks improve their trade finance products and better serve small
businesses.
In cooperation with the government of
Japan, IFC is hosting a seminar in Kinshasa on structuring trade finance
transactions, managing trade finance risk, and increasing trade finance
product offerings. More than 20 banking professionals from 13 banks
across the Democratic Republic of Congo are participating in the seminar,
which runs from September 14 to September 18.
“IFC, through its Global Trade Finance
Program, is helping restore access to trade finance, which has been negatively
affected by the global financial crisis,” said Georgina Baker, IFC Director
for Financial Markets. “The program’s training component is vital
in helping banks in emerging markets provide trade finance to importers
and exporters, particularly small and medium enterprises.”
Kiyohiko Ikeda, First Secretary, Embassy
of Japan in the Democratic Republic of Congo, said, “The Japanese government
is pleased to work with IFC to support emerging market trade. The
seminar in Kinshasa is an important opportunity for local banking professionals
to sharpen their knowledge of trade finance to better serve local entrepreneurs
and small businesses.”
Japan has provided $1 million to the
IFC Global Trade Finance Program to support training workshops and help
local banks in Africa develop trade finance expertise in line with internationally
recognized best practices. The government has sought to keep trade
flowing during the global financial crisis. Working in close cooperation
with IFC, Japan launched a $1.5 billion trade finance initiative in February
2009 to support importers and exporters in developing countries.
Established in 2005, the IFC Global
Trade Finance Program promotes the expansion of trade between emerging
markets, particularly South-South trade. It has provided more than
$5.3 billion in guarantees to 158 issuing banks in 74 countries and delivered
trade finance training courses in more than 50 countries worldwide.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $14.5
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
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