Argentina's Banco CMF joins trade finance scheme

Banco CMF in Argentina has joined the IFC’s global trade finance programme as an issuing bank. By joining the scheme, the bank can increase its capacity for trade finance through using IFC’s guarantees.

“For CMF, trade finance is a strategic product for developing the middle market. Through the programme, the bank will improve its trade finance capacity by broadening its access to international markets and extending its geographic coverage to better serve clients,” Patricio Ovalle, head of Banco CMF’s international division remarks.

Since the IFC global trade finance programme was launched in 2005, the IFC has issued US$900mn in guarantees to facilitate trade flows with America and the Caribbean.