The IFC increases GTFP facility limit for LOCKO-Bank up to USD80 million

On 14th of May 2013 IFC has increased to $80 million limit for the guarantees it provides to LOCKO-Bank under the IFC Global Trade Finance Program, which will strengthen the bank’s ability to serve small and medium enterprises.

The IFC Global Trade Finance Program supports trade with emerging markets worldwide and promotes the flow of goods and services to and from developing countries. IFC provides partial or full guarantees against underlying trade instruments and covers the payment risk of participating issuing banks. The program allows issuing banks to increase the volume and value of trade transactions, with enhanced tenors and access to competitive pricing terms.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. IFC became a shareholder of LOCKO-Bank in 2006. Since then IFC has cooperated with the bank in many areas.