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Trade Finance

Staff Reporter

, APAC

Published:

1 year ago

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[From left to right] Mohamed Gouled, IFC Vice President, and Sunil Kaushal, Regional Chief Executive Officer for Africa & Middle East, Standard Chartered. (Photo by the IFC)

Standard Chartered, IFC ink $700m investment to boost global trade

Since 2009, the programme has supported over $20.5b worth of transactions.

Standard Chartered and IFC have signed a $700m investment in IFC’s Global Trade Liquidity Programme (GTLP) aimed at supporting global trade finance.

Since the launch of the initial facility in 2009, facilities under the programme have reportedly supported over $20.5b in global trade over 150 merging Market Issuing Banks (EMIBs) in 37 countries across 17,746 transactions, without any defaults.

ALSO READ: Standard Chartered, IFC ink $700m investment to boost global trade

This renewed facility is expected to support up to $6.4b in trade over three years across Asia, the Middle East, Africa and Latin America.

It is estimated to support about 850 importers and exporters involved in critical commodities, basic goods and other essential materials to meet market demand, Standard Chartered said in a press release.

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