Bogota, Colombia, February 23,
2015 — The International Finance Corporation (IFC), a member of the
World Bank Group, announced that Banco Financiero del Peru S.A.A., one
of Peru’s largest banks, has joined its Global Trade Finance Program,
which will bolster the financial support for foreign trade in Peru.
Banco Financiero del Peru, a member
of Ecuador’s Grupo Pichincha, will have access to IFC’s Global Trade
Finance Program. This program seeks to provide trade support for
emerging markets by offering partial or full guarantees for specific trade
transactions. The program is part of IFC’s solutions to support foreign
trade and supply chains in emerging markets.
By joining this program, Banco Financiero
del Peru, will be able to ramp up its support for the trade finance needs
of Peruvian companies. Banco Financiero targets small and medium enterprises
and corporate clients, offering them a suite of highly competitive banking
This program will allow Banco Financiero
del Peru, Peru’s six largest bank, to increase its support for the trade
finance needs of Peru’s enterprises. It will provide access to a global
network of confirming banks, facilitate access to trade lines, and help
provide comprehensive solutions for small and medium enterprises.
“With this operation Banco Financiero
del Peru continues the process of diversifying its sources of financing.
We are very pleased to join this program, whose resources will be used
to consolidate the expansion of the bank’s placements in the foreign trade
segment,” said Yliana Velarde León, Foreign Trade manager at Banco Financiero
The Global Trade Finance Program allows
IFC to provide its global clients with a flexible platform for their trade
operations. The facility is activated when a commercial bank such as Banco
Financiero del Peru requests a partial or full guarantee from IFC for specific
“This strategic partnership with Banco
Financiero del Peru will help IFC boost the bank’s trade finance capacity
for Peru’s import and export sector,” said Carlos Leiria Pinto, IFC Head
for the Andean Region. “Banco Financiero’s membership in this program
is part of IFC’s efforts to help strengthen and foster the development
of financial markets in Peru,” he added.
Since the inception of the Global Trade
Finance Program, IFC has issued over US$8.7 billion in guarantees to support
trade flows in Latin America and the Caribbean. Almost 70 percent of the
guarantees issued have benefited local small and medium enterprises and
supported interregional trade flows among emerging market nations.
This new operation by IFC also reinforces
its commitment to supporting Peru’s sustainable economic growth by improving
access to finance for underserved SMEs. It is also an example of the strong
relationship between the World Bank Group and Peru, which will host the
IMF and World Bank Group’s Annual Meetings in Lima on October 2015.
IFC has invested a total of US$3.1 billion
in Peru since 1956, when Peru became a member country, including US$1.1
billion in funding mobilized. IFC’s strategy in Peru aims to increase
debt and equity financing, improve the investment climate and support key
players in Peru’s private sector that can expand the country’s infrastructure
as well as deliver products and services to underserved sectors, for example
by expanding access to finance for micro, small, and medium enterprises
(MSMEs), as well as access to housing, health and education finance.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. It works with private enterprises in 100 countries, utilizing
its capital, expertise, and influence to help end extreme poverty and boost
shared prosperity. In FY14, it provided over US$22 billion in financing
to improve lives in developing countries and tackle the most urgent challenges.
For more information, visit www.ifc.org