Abidjan, Cote d’Ivoire, Nov. 1, 2011 –
IFC, a member of the World Bank Group, and the Government of Japan
are providing training in trade finance this week to bankers from Cote
d’Ivoire, Senegal, Benin, Togo, Congo Republic, Gabon, Central Africa
Republic, Niger and Burkina Faso to help them improve their trade finance
operations, reduce risks, and better serve small and medium businesses
in their country.
This training is part of IFC’s Global Trade
Finance Program, established in 2005, to promote trade flows between emerging
markets, increase developing countries’ share of global trade, and support
the flow of goods and services between these countries.
Twenty-nine bankers from 17 banks in nine
African countries are participating in a five-day training session in Abidjan
from October 31 to November 4. The week-long training is the first held
in Cote d’Ivoire by IFC’s Global Trade Finance Program. This course covers
the main aspects of trade finance and then focuses on systematic approach
to achieving a well controlled and cost-effective trade back office of
Georgina Baker, IFC Director Short Term Finance,
said, “Through its Global Trade Finance Program, IFC is supporting increased
trade in Africa. Providing training is an important part of the program’s
efforts to help banks in emerging markets provide trade finance to importers
and exporters, particularly small and medium enterprises.”
Mr. Tokuwaka, the “Responsable de la Cooperation
Economique” at the Embassy of Japan in Cote d’Ivoire, said, “Japan,
in partnership with IFC, welcomes the Global Trade Finance Program’s training
seminars, which encourage capacity building in Africa and contributes to
its sustainable development.”
IFC’s Global Trade Finance Program offers
participating banks partial or full guarantees on payment obligations in
emerging markets for trade-related transactions. IFC’s trade advisory
program is an integral component of this larger program and is designed
to help local banks build their trade finance capacity.
The advisory program provides banks and other
financial institutions with training and support to upgrade their skills
in structuring basic and complex trade finance transactions, improve their
techniques for mitigating trade finance risk, upgrade the operational and
technical skills of their trade finance back offices, and transfer current
international best practices in trade finance to local markets.
In Africa, more than 1000 bankers from 26
countries have benefited from 80 IFC trade finance training courses since
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We help
developing countries achieve sustainable growth by financing investment,
providing advisory services to businesses and governments, and mobilizing
capital in the international financial markets. In fiscal year 2011, amid
economic uncertainty across the globe, we helped our clients create jobs,
strengthen environmental performance, and contribute to their local communities—all
while driving our investments to an all-time high of nearly $19 billion.
For more information, visit www.ifc.org.
About the Government of Japan
Japan is determined to contribute to
the development of Africa. Our commitment was demonstrated in launching
the TICAD process, through which Japan has promoted the principles of both
global partnership and African ownership. The Government of Japan announced
in the Yokahama Action Plan in TICAD IV its intention to double ODA to
Africa by 2012. For more information, visit www.ticad.net.