Hanoi, Vietnam, November 4, 2008—IFC,
a member of the World Bank Group, is helping train banks in Vietnam on
how to mitigate risks associated with trade finance, which could improve
the banks’ ability to assist local entrepreneurs and small businesses
amid turmoil in global financial markets.
In cooperation with the government of Japan, IFC is hosting a seminar in
Hanoi, Vietnam, that will bring together local banks that focus on international
trade. The seminar began Monday and ends Friday, November 7. It includes
sessions on documentary credit, trade finance rules, guarantee instruments,
and the process of applying IFC guarantees to various financing structures.
Serge Devieux, IFC Senior Manager for East Asia and Pacific, Global Financial
Markets, said, “The training program aims to upgrade the trade finance
operational skills of local banks. In these times of tight global liquidity,
these skills will allow bankers in Vietnam to optimize trade financing
The seminar was organized with the assistance of the Bank Training and
Consultancy Company, an organization that focuses on developing the banking
industry. The company was originally established by a group of joint-stock
banks with support from IFC and other development partners.
Tomohiro Fujiyama, First Secretary at the Embassy of Japan in Hanoi, said,
“We are delighted to support IFC’s trade finance training in Hanoi. We
believe that this will enable Vietnamese banks to expand and improve their
trade finance offerings to small and midsize exporters and importers, as
well as promote more trade between Vietnam and other countries.”
Launched in 2005, the IFC Global Trade Finance Program supports trade with
emerging markets worldwide. It aims to increase developing countries’
share of global trade and promote South-South flows of goods and services.
Globally, the program has provided more than $3.1 billion worth of guarantees
to 153 issuing banks in 63 countries, where more than 74 percent are issued
for small and medium enterprises. It has also delivered 42 trade finance
training courses reaching 734 bankers from 47 countries worldwide.
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.