Traders work on the floor of the Ghana Stock Exchange in Accra, Ghana. © Jonathan Ernst / World Bank
Global trade is essential for growth and a key driver of integration and opportunities for local enterprises. Financing trade is fundamental to the movement of goods at all stages of the supply chain and can have a strong development impact on developing countries.
Through the Global Trade Finance Program (GTFP) launched in 2005, IFC issues credit guarantees where others won't, providing essential liquidity for trade flows through its global network of more than 500 bank partners, helping small and medium enterprises in the world's poorest countries join the global trading system.
Since its inception, GTFP has covered over 25,000 trade transactions and supported over $27 billion in emerging market trade, without a single loss. In the world's poorest countries, eligible to borrow from the World Bank's International Development Association, GTFP has committed over $11 billion, with commitments of $5.4 billion in sub-Saharan Africa.
In particular, IFC focuses on supporting trade in areas such as agribusiness, small and medium enterprises, and energy, because these have the greatest impact on the poor.
EXAMPLE OF WHAT WE DO