Minsk, Belarus, June 3, 2013—IFC,
a member of the World Bank Group, and BPS-Sberbank are working together
to improve access to finance for export-oriented small and medium businesses
IFC will increase its trade finance guarantee
to BPS-Sberbank, a leading trade finance intermediary in Belarus, to $50
million. Two years ago the bank became the first in the country to become
a confirming bank in IFC’s Global Trade Finance Program (GTFP), which
broadens access to finance for companies and reduces risks for local banks.
BPS-Sberbank joined GTFP in 2009, and since then it has supported trade
finance deals worth over $85 million.
“The increase will allow us to enhance
our ability to provide efficient solutions for our clients and open new
opportunities for them,” said Vasil Matsiusheuski, BPS-Sberbank Chairman.
Established in 2005, GTFP has issued
more than 15,000 guarantees to banks, totaling $23 billion, to assist their
clients in developing markets. IFC has provided over $201 million in guarantees
to Belarusian banks as part of GTFP.
“Support for local banks has been the
focus of our work in the Belarusian financial sector for the past several
years,” said Rufat Alimardanov, IFC Regional Manager for Ukraine and Belarus.
“This helps local companies reach new markets and further expand their
foreign trade, and encourages investment in Belarus.”
In 2012, IFC provided $3 billion to
support trade in the world’s poorest countries, and 81 percent of all
guarantees went to small and medium enterprises. GTFP includes more than
260 partner banks in more than 90 emerging markets.
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, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.
For more information about BPS-Sberbank,
please visit www.bps-sberbank.by