Washington, D.C., June 13, 2012—IFC,
a member of the World Bank Group, extended a credit line under the Global
Trade Finance Program to Banco BISA Bolivia that will expand access to
finance for importers and exporters in Bolivia, and help them reach new
IFC’s Global Trade Finance Program supports
trade in emerging markets by providing partial or full guarantees for individual
trade transactions backed by IFC’s triple-A rating.
By joining IFC’s program as an issuing bank,
Banco BISA will have easier access to diversified funding sources for its
clients’ trade transactions. The bank will also be able to grow its correspondent
network and open up new banking relationships to better serve the increasing
number of clients involved in international trade.
“With IFC’s support, we will now be able
to expand our product offerings to our importer and exporter clients throughout
Bolivia,” said Tomás Barrios, Banco BISA CEO. “We are proud to continue
our long-term partnership with IFC and promote economic development in
Bolivia through international trade.”
“Trade is a driving force and an engine
for growth in many developing countries,” said Georgina Baker, IFC Director
for Global Trade and Supply Chain Solutions. “This trade credit line for
Banco BISA will help Bolivian firms enter new markets, opening opportunities
for business growth and spurring local job creation.”
Since its inception in 2005, IFC’s award-winning
Global Trade Finance Program has issued more than 12,000 guarantees totaling
$17 billion to banks on trade-related payment obligations of its financial
institution clients in emerging markets. Most significantly, in fiscal
year 2011, some 53 percent of the total volume supported trade in the world’s
poorest countries, and 79 percent went to small and medium enterprises.
The program includes more than 200 partner banks in over 90 emerging-market
For more information on the program, contact
Antonio Alves, Principal Regional Head of Trade Finance for Latin America
and the Caribbean, at firstname.lastname@example.org, or visit www.ifc.org/trade.
About Banco BISA S.A.
Banco BISA S.A. is Bolivia’s third-largest
commercial bank with a market share of 15 percent by assets, 14 percent
by deposits, and 10 percent by loans. With more than 50 years of history,
the bank is well-recognized in the local financial system, working with
large corporations, small and medium enterprises, and now microenterprises
through a microfinance unit established last year. Banco BISA is part of
locally owned Grupo BISA, the largest financial conglomerate in Bolivia.
For more information, visit www.grupobisa.com.
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, providing advisory services to businesses and governments,
and mobilizing capital in the international financial markets. In fiscal
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.