IFC has signed its first project in the Republic of Suriname, with a US$5mn trade credit line to De Surinaamsche Bank (DSB).

Issued nder the IFC global trade finance programme (GTFP), the loan will finance DSB’s international trade and promote local economic development.

“With IFC’s support, DSB will be able to grow its business and provide clients with new products and services to support their trade transactions in overseas markets,” says Sigmund Proeve, chief executive officer of DSB. “By sustaining local industries, our bank will have a fundamental role to play in promoting economic expansion for years to come.”

Jun Zhang, IFC Caribbean regional manager, adds: “IFC’s first investment in Suriname will help local businesses, especially small and medium enterprises connect with regional and global markets. Developing the country’s financial sector will be critical to ensure sustainable economic growth.”