The International Finance Corporation, a member of the World Bank Group,on July 22 committed a record 505 million USD in the fiscal year 2011to help Vietnamese businesses increase their import and exportactivities.
This sum will be transferred to businesses through the Vietnamesecommercial banks under the Global Trade Finance Programme (GTFP).
Simon Andrews, IFC Regional Manager for Vietnam, Laos, Cambodia andThailand said, “By complementing banks’ capacity to deliver tradefinance solutions, IFC has helped ensure continued trade flows vital toenterprise growth despite liquidity constraints.”
The programme, since its launch in Vietnam in late 2007, has helpedimprove the capacity of nine banks to cover the payment risk in grantingtrade financing to local companies, mostly small and mediumenterprises.
Under the programme, the banks have issued 268 guarantees to support one billion USD in trade finance transactions./.
This sum will be transferred to businesses through the Vietnamesecommercial banks under the Global Trade Finance Programme (GTFP).
Simon Andrews, IFC Regional Manager for Vietnam, Laos, Cambodia andThailand said, “By complementing banks’ capacity to deliver tradefinance solutions, IFC has helped ensure continued trade flows vital toenterprise growth despite liquidity constraints.”
The programme, since its launch in Vietnam in late 2007, has helpedimprove the capacity of nine banks to cover the payment risk in grantingtrade financing to local companies, mostly small and mediumenterprises.
Under the programme, the banks have issued 268 guarantees to support one billion USD in trade finance transactions./.
