Baku, Azerbaijan, August 21, 2014—IFC,
a member of the World Bank Group, is helping Azerbaijan’s Turan Bank train
its staff to reduce risks related to trade finance, provide better solutions
for small international traders, and support expansion to foreign markets.
IFC’s Global Trade Finance Program
(GTFP) advisory services are organizing a series of training programs to
help the bank process trade transactions. The courses are designed to help
participants understand international trade operations while reducing associated
risks and costs, thereby promoting international trade and networking among
banks.
“We aim to become one of the key players
in introducing new products and profitable trade solutions to our clients,”
said Nazim Sadigov, Chairman of the Management Board of Turan Bank. “IFC’s
training programs will help us achieve this strategic objective.”
Through GTFP’s advisory services,
IFC has delivered close to 220 training programs, reaching more than 5,400
bankers in over 60 countries.
“By sharing our global knowledge with
the local market, we aim to help our partner bank in Azerbaijan strengthen
its capacity in trade finance,” said Aliya Azimova, IFC Country Representative
in Azerbaijan. “This initiative is expected to benefit small and mid-sized
exporters and importers, creating more opportunities for trade in and out
of Azerbaijan.”
Azerbaijan became a member of IFC in
1995. Since then, IFC has invested more than $414 million in the country
and mobilized $73 million from other lenders. IFC has also implemented
advisory projects focused on private sector development.
About IFC
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. Working with private enterprises in about 100 countries,
we use our capital, expertise, and influence to help eliminate extreme
poverty and boost shared prosperity. In FY14, we provided more than $22
billion in financing to improve lives in developing countries and tackle
the most urgent challenges of development. For more information, visit
www.ifc.org.
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For more information about Turan
Bank, visit: www.turanbank.az.
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