Washington, D.C., December 8, 2009—IFC,
a member of the World Bank Group, today announced that Banco Industrial
do Brasil joined IFC’s Global Trade Finance Program. The Brazilian bank
now gains access to an extensive network of international banks, enabling
it to expand trade financing for small and midsize businesses.
“This partnership with the Global Trade
Finance Program will help us increase our capacity to provide export financing
to our small and medium enterprise clients and also increase access to
new markets around the world,” said Eduardo Guimaraes, Chief Financial
Officer of Banco Industrial do Brasil.
Andrew I. Gunther, IFC’s Brazil Country
Manager, said, “The entry of Banco Industrial do Brasil into the program
is a key element of IFC’s efforts to strengthen the support of small and
medium enterprise clients in the dynamic economy of Brazil.”
The Global Trade Finance Program issues
trade guarantees for banks operating in emerging markets, helping mitigate
the risks that might otherwise stop a bank from financing a trade. Banco
Industrial do Brasil’s first use of the program will be $2.5 million in
export financing to facilitate a coffee trade between a local client and
buyers in Europe, said Guilherme C. Gottardi, the bank’s international
Since launching the program, IFC has
issued $2.0 billion in guarantees to facilitate trade flows with Latin
America and the Caribbean, with a network of 46 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 market nations.
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, Head of Trade Finance for Latin America
and the Caribbean, at firstname.lastname@example.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 Industrial do Brasil
Banco Industrial do Brasil, owned by
Carlos Mansur, was established in 1994. The bank is headquartered in São
Paulo, and has branches in Campinas, Rio de Janeiro, Curitiba, and Salvador.
With 220 employees, it focuses on small and medium enterprises. The bank
was awarded the best bank for Middle Market in Brazil by Risk Bank in 2006