OREANDA-NEWS. November 10, 2009. JSC “BPS-Bank” has joined International Finance Corporation’s (IFC’s) Global Trade Finance Program (GTFP). The respective agreement was signed, reported the press-centre of BPS-Bank.

In accordance with the signed agreement IFC shall open a credit line to JSC “BPS-Bank” for the amount of USD 30 mln. to be used for trade finance purposes. The credit line will enable the Bank to offer its customers the required support in foreign trade transactions and issuing of documentary instruments at a completely new level, thus facilitating the development of foreign trade of the Republic of Belarus.

Cooperation with IFC will enable JSC “BPS-Bank” to strengthen its leading positions in trade finance business, develop further cooperation with major global banks and establish partnership relationships with financial institutions of Latin America, Africa, Asia-Pacific region.

The signed agreement repeatedly demonstrates the authority and reliability of JSC “BPS-Bank”, high level of confidence towards the Bank on part of the key international financial institutions.

Foreign trade financing is the key business line of JSC “BPS-Bank”. The total volume of trade finance transactions effected by the Bank in 2009 amounts to USD 229 mln.

International Finance Corporation is one of the organizations of the World Bank Group, which invests in the private sector. IFC provides loans, investments in the form of partial participation in the equity, structured finance and risk management products, as well as consulting services in order to facilitate the private sector growth in the emerging markets.

Through the Global Trade Finance Program launched in October 2005 IFC offers guarantees for transactions and covers non-payment risks, thus expanding the banks’ opportunities in trade finance in the emerging markets. GTFP enables the participating banks to increase volumes and tenors of financing for trade-related transactions on a competitive basis.