Eastern Bank and Dhaka Bank are the first issuing banks in Bangladesh to join the IFC’s Global Trade Finance Program. The revolving guarantee facility aims to help importers in Bangladesh in two ways. It provides importers better access to letter of credit confirmations and it extends the geographical reach and availability of confirmation lines for documentary credits originated by these banks through a network of confirming banks that are also part of the programme.


Iyad Malas, director of IFC’s South Asia region, says, “This programme will help Bangladeshi importers increase their trade volume and promote trade between Bangladesh and other countries.”


The programme supports trade with emerging markets worldwide by promoting flows of goods and services between developing countries. IFC provides guarantee coverage of bank risk in emerging markets, allowing recipients to expand their trade finance transactions within an extensive network of countries and banks and to enhance their trade finance coverage. IFC is also in discussions with other select banks in Bangladesh for their participation under the programme.