IFC, a member of the World Bank Group, will provide a $ 5 million trade finance facility to Siddhartha Bank. This will boost Siddhartha Bank’s international trade business and enhance its ability to support both small and large business clients.
The trade finance facility, extended under IFC’s Global Trade Finance Programme, will help Siddhartha
Bank establish trade partnerships with over 250 international banks.
“This trade line will help expand our capacity to finance local importers and exporters. More importantly, we can better support smaller businesses with our trade-finance products,” said Surender Bhandari, chief executive officer of Siddhartha Bank.
This investment adds to IFC’s list of five existing banks that are supported under IFC’s Global Trade Finance Programme in Nepal. “IFC’s support to Siddhartha Bank fits well with our strategy to partner financial institutions that are committed to developing Nepal’s small and medium enterprises,” said Valentino S Bagatsing, IFC Resident Representative for Nepal. “The facility will
provide access to over 100 emerging-market countries for the bank.”
IFC launched its Global Trade Finance Programme in 2005 to help increase global trade in developing countries and promote flows of goods and services among these nations. The programme now has a network of more than 500 participating banks worldwide. Since its inception, the Global Trade Finance Programme has covered over 25,000 trade transactions and supported over $ 27 billion in emerging market trade, without a single loss.
source: the kathmandu post,5 june 2014
LINK
The trade finance facility, extended under IFC’s Global Trade Finance Programme, will help Siddhartha
Bank establish trade partnerships with over 250 international banks.
“This trade line will help expand our capacity to finance local importers and exporters. More importantly, we can better support smaller businesses with our trade-finance products,” said Surender Bhandari, chief executive officer of Siddhartha Bank.
This investment adds to IFC’s list of five existing banks that are supported under IFC’s Global Trade Finance Programme in Nepal. “IFC’s support to Siddhartha Bank fits well with our strategy to partner financial institutions that are committed to developing Nepal’s small and medium enterprises,” said Valentino S Bagatsing, IFC Resident Representative for Nepal. “The facility will
provide access to over 100 emerging-market countries for the bank.”
IFC launched its Global Trade Finance Programme in 2005 to help increase global trade in developing countries and promote flows of goods and services among these nations. The programme now has a network of more than 500 participating banks worldwide. Since its inception, the Global Trade Finance Programme has covered over 25,000 trade transactions and supported over $ 27 billion in emerging market trade, without a single loss.
source: the kathmandu post,5 june 2014
LINK
Comments
Post a Comment