Bolivia’s Banco Ganadero has joined the IFC’s global trade finance programme to help expand trade financing for the bank’s clients.
The IFC’s trade guarantee programme helps mitigate risks that otherwise might stop a bank from financing trade in developing economies.
“This relationship with the global trade finance programme will help us increase our capacity to deliver trade products at competitive pricing to a broad number of Bolivian clients, expanding our geographic coverage,” says Ronald Gutiérrez López, Banco Ganadero’s general manager.
Giri Jadeja, the IFC’s global financial markets regional senior manager for Latin America and the Caribbean, adds: “The entry of Banco Ganadero into the programme is a key element of the IFC’s efforts to continue supporting Bolivian small and midsize enterprises active in trade.”
Since launching the global trade finance program, the IFC has issued US$2.2bn in guarantees to facilitate trade flows with Latin America and the Caribbean, with a network of 50 issuing banks in the region. More than 40% of the guarantees issued have benefited local small and midsize businesses and supported interregional trade flows between emerging markets.
Reader Comments