Bishkek, Kyrgyz Republic, July 27, 2012—IFC,
a member of the World Bank Group, this week hosted a trade finance training
program for 11 banks in Kyrgyz Republic, Tajikistan, and Uzbekistan to
help them explore new trade finance products and broaden financial services
for their clients who export and import goods and services.
The five-day training program, run with sponsorship from Switzerland’s
State Secretariat of Economic Affairs (SECO), helped banks identify opportunities
to connect local businesses with international customers and suppliers.
The participants also learned how to identify and mitigate operational
risks by adopting good trade finance practices.
“The bankers need to keep pace with
developments in global financial markets and act accordingly to stay competitive,”
said Edward Strawderman, Associate Director of IFC’s Global Financial
Markets Department for Europe and Central Asia. "Through such international
training programs, bankers in different countries will learn how to use
trade finance products and make the most of opportunities to increase external
Gabriela Schafroth, Project Manager, said, “The State Secretariat of Economic
Affairs of the Swiss government is focused on the promotion of sustainable
economic growth based on a market economy and on the integration of developing
countries into the world economy. IFC’s mandate to promote trade by integrating
developing countries into the international trade network fits our strategy,
and SECO is delighted to partner with IFC in its effort to build capacity
of banks in emerging markets.”
This training was led by the IFC Global
Trade Finance Advisory Program. The initiative is part of IFC’s $3 billion
Global Trade Finance Program, which supports banks in emerging markets
as they channel credit toward trade-related transactions of their financial-institution
Since its inception in 2005, the Global
Trade Finance Program has issued more than 12,000 guarantees totaling $19
billion to emerging market banks. IFC works with more than 60 partner issuing
banks in Europe and Central Asia, where IFC supported more than $1 billion
in trade transaction activity in the last year. The Trade Advisory Services
program has delivered 160 training modules in trade finance operations,
sales, and risk management over the last six years, working with more than
4,300 bankers from over 50 countries.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.