Access to Finance:
Bank of Palestine/Investing in Its People

IFC has just the right partner in Standard Chartered—a respected international bank committed to sustainable development across Asia, Africa, and the Middle East.

Standard Chartered has had a long-standing partnership with IFC, jointly financing development projects in emerging markets. The relationship has evolved over the last three years, inspired by a shared vision and common footprint.

In 2009, responding to the economic and credit crisis, Standard Chartered and IFC launched a $1.25 billion plan to finance global trade. The facility was the first to emerge from the Global Trade Liquidity Program, a larger trade finance initiative that supports the G20’s call to support emerging market exporters and importers and to get global trade moving again. Standard Chartered and IFC are also exploring other trade-related opportunities in underserved sectors such as agriculture.

Founded 150 years ago, the London-based bank provides wholesale and consumer banking services to companies, financial institutions, and individuals in more than 70 countries, holding $435 billion in assets. The bank’s robust business model, based on a prudent approach to capital and liquidity, and its discipline in cost and risk management have enabled it to emerge strongly from the downturn.

In 2008, Standard Chartered and IFC came together to provide an innovative solution for improving access to finance in the developing world, enabling millions to escape poverty. Standard Chartered’s five-year, $500 million facility for microfinance institutions in Asia and Africa was backed by a $45 million funding from IFC through a securitization transaction that reduced the bank’s risk and boosted its ongoing microfinance program in 11 countries.

In addition to the landmark trade and microfinance transactions, Standard Chartered has been an active partner in IFC securitizations and treasury activities. The partnership between IFC and Standard Chartered will go a long way in building a sustainable global economy by upholding high standards of corporate governance, social responsibility, environmental protection, and employee diversity. Together we can make a difference to millions of lives in the developing world.