Washington, DC, April 22 2009—IFC,
a member of the World Bank Group, announced today that Banco
Atlántida in Honduras has
joined IFC’s Global Trade Finance Program, which will help the bank access
a global trade network and enhance its support for small and medium-sized
enterprises (SMEs) in the country that import or export goods.
Atlántida, the second bank
in Honduras to join IFC’s Global Trade Finance Program, has already begun
to use its trade lines for a pre-export financing transaction totaling
$5 million, which will support international trade in food products such
Guillermo Bueso, Banco Atlantida’s CEO, said, “We are pleased to be a
part of the IFC Global Trade Finance Program, which will enable us to better
support our trade clients. This new relationship will boost economic development
by enhancing the potential for businesses in Honduras to engage in international
Marcos Brujis, IFC’s Country Manager for Honduras, said, “The
IFC Global Trade Finance Program will allow Banco Atlántida to increase
its trade finance business in the region by establishing relationships
with banks in countries that export to or import from Honduras. These linkages
are critical for the enhancement of trade financing in the country and
throughout the Central American region.”
Since launching the Global Trade
Finance Program in the region in February 2006, IFC has issued $1.25 billion
in guarantees to facilitate trade flows with Latin America and the Caribbean.
The program supports trade with emerging markets worldwide and promotes
flows of goods and services between developing countries. IFC provides
guarantee coverage of bank risk in emerging markets, allowing recipients
to expand their trade finance transactions within an extensive network
of countries and banks.
The network of issuing banks for Latin America and the Caribbean has expanded
to 36 banks in 15 countries including: Argentina, Bolivia, Brazil, Costa
Rica, the Dominican Republic, Ecuador, Guatemala, Haiti, Honduras, Mexico,
Nicaragua, Paraguay, Peru, St. Lucia, and Uruguay.
More than 40 percent of the guarantees issued benefited local small and
medium-sized businesses and supported interregional trade flows between
emerging market nations. Antonio Alves is the IFC Head of Trade Finance
for Latin America and the Caribbean (email: AAlves1@ifc.org).
For more information, visit www.ifc.org/gtfp.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org.
About Banco Atlántida
Banco Atlántida is the leading company of the largest independent financial
group in Honduras, serving individual consumers, as well as small and large
enterprises with a full range of banking and financial services. With the
use of innovative technology and world-class standards, the Bank provides
over 400,000 customers with industry-leading products and services, and
offers unparalleled convenience in Honduras, through the largest network
of branches in the country. Fitch has issued an A+ rating for Banco
Atlántida. For more information, visit www.bancatlan.hn.