Washington, D.C., February 18, 2010—IFC,
a member of the World Bank Group, today announced that Bolivia’s Banco
Ganadero joined IFC’s Global Trade Finance Program, which provides guarantees
for banks operating in emerging markets to help them expand trade financing
for their clients.
IFC’s trade guarantee program helps mitigate
risks that otherwise might stop a bank from financing trade in developing
“This relationship with the Global Trade
Finance Program will help us increase our capacity to deliver trade products
at competitive pricing to a broad number of Bolivian clients, expanding
our geographic coverage,” said Ronald Gutiérrez López, Banco Ganadero’s
Giri Jadeja, IFC’s Global Financial Markets
Regional Senior Manager for Latin America and the Caribbean, said, “The
entry of Banco Ganadero into the program is a key element of IFC’s efforts
to continue supporting Bolivian small and midsize enterprises active in
Since launching the Global Trade Finance
Program, IFC has issued $2.2 billion in guarantees to facilitate trade
flows with Latin America and the Caribbean, with a network of 50 issuing
banks in the region. More than 40 percent of the guarantees issued have
benefited local small and midsize businesses and supported interregional
trade flows between emerging markets.
IFC is the only international financial institution
focused exclusively on the private sector, the engine of sustainable development
in emerging markets. Along with IBRD, it is currently seeking a capital
increase to strengthen its ability to create opportunity for the poor in
developing countries—including by helping extend trade financing in Latin
America and the Caribbean.
For more information about the trade program,
contact Antonio Alves, Senior Regional Head of Trade Finance for Latin
America and the Caribbean, at Aalves1@ifc.org or 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 $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.
About Banco Ganadero
Banco Ganadero, a Bolivian commercial bank,
services corporate, medium and small companies. The bank offers a wide
range of financial services, including trade financing. As part of
IFC’s Global Trade Finance Program, Banco Ganadero will enhance its range
of products, reaching most countries and financial institutions in the
international finance business, offering competitive prices to its clients
and issuing letters of credit and financing international transactions.
For more information, visit http://www.bg.com.bo/