Banco del Estado de Chile has joined the Inter-American Development Bank’s (IADB) Regional Trade Finance Facilitation Program (TFFP) as a confirming bank.

Under the TFFP, the IADB extends guarantees to cover letters of credit, promissory notes, bid bonds, performance bonds, advance payment bonds and other instruments used in international trade transactions. BancoEstado is the second Chilean bank to join the TFFP as a confirming bank.