IFC
2121 Pennsylvania Ave., NW Washington, DC 20433, USA ifc.org/gtfp
Creating Opportunity
IFC, a member of the World Bank Group, is the largest global
development institution focused exclusively on the private sector. We
help developing countries achieve sustainable growth by financing
private sector investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
We play a catalytic role by demonstrating the profitability of investments
in emerging markets.
Established in 1956, IFC is owned by 183 member countries, a group that
collectively determines our policies. Our work in more than 100 countries
allows companies and financial institutions in emerging markets to
create jobs, generate tax revenues, improve corporate governance and
environmental performance, and contribute to their local communities.
In fiscal year 2011, we invested nearly $19 billion in more than 500
projects in 102 countries, of which $12.2 billion was for our own account.
In addition, we mobilized nearly $6.5 billion from other investors. Our
Advisory Services project expenditures totaled $206.7 million.
Half our investment projects – totaling $4.9 billion in commitments – and
about two-thirds of our Advisory Services project expenditures were in
the poorest countries, those served by the International Development
Association (IDA).
Our Vision is that people should have the opportunity to escape poverty and improve their lives.
Our Core Corporate Values are • Excellence
• Commitment • Integrity • Teamwork • Diversity
Our Purpose is to create opportunity for people to escape poverty by catalyzing the means for inclusive and sustainable growth, through:
• Mobilizing other sources of finance for private enterprise development. • Promoting open and competitive markets in developing countries. • Supporting companies and other private sector partners where there is a
gap.
• Helping to generate productive jobs and deliver essential services to the poor and vulnerable.
IFC: Key Facts
Cr e dit rat in g : A A A (M o o d y ’s , Standard & Poor’s)
Portfolio: $42.8 billion for IFC’s own account (as of June 30, 2011)
Investments Committed in FY11: $12.2 billion for IFC’s own account (518 in 102 countries)
Total Staff: Approximately 3,400 (based in 102 offices in 92 countries) Industry Coverage:
• Trade and Supply Chain Solutions • Global financial markets; private
equity and investment funds • Global manufacturing and services;
agribusiness; health and education • Infrastructure; information and
communication technologies; oil, gas, mining and chemicals; sub-national finance
Global Trade Finance ProGram ifc.org/gtfp
THE Global TradE FinancE ProGram
The iFc Global Trade Finance Program (GTFP)
guarantees the trade-related payment obligations of
approved financial institutions in emerging markets
across all regions of the world. Through the GTFP bank
network, local financial institutions (“issuing banks”)
can establish working partnerships with a vast number
of major international and regional banks (“confirming
banks”) in the program, thus broadening access to
finance. by tapping the risk mitigation provided by
the GTFP, international trade finance providers can
enhance their global reach confidently, gain familiarity
in new markets, and build relationships with quality
counterparty banks around the world.
The GTFP complements and extends the capacity of
banks to deliver trade finance by providing risk mitigation
on a per-transaction basis in challenging markets where
trade lines may be limited. The program gives priority
support to trade flows that promote critical sectors, such
as agriculture and energy efficiency, while maintaining
strategic focus on Sme importers and exporters and
trade between emerging markets, particularly trade
with ida countries (the poorest developing markets as
classified by the World bank). With its global mandate,
dedicated trade specialists, and over 400 participating
banks, the Program links an extensive network of bank
partners worldwide and allows them to conveniently
finance their clients’ imports and exports. Please refer
to
ifc.org/gtfp
for updated country and bank coverage.
about the GTFP
What are the advantages for confirming banks?
For banks receiving guarantee coverage, the GTFP:
• Expands geographical coverage for servicing export clients
• Provides risk coverage to leverage trade lines in new or challenging markets
• Builds new correspondent bank relationships on a low-risk basis
• Mitigates provisioning and Basel capital requirements
What are the advantages for issuing banks?
The GTFP supports Issuing Banks by:
• Offering opportunities to build relationships with new correspondent banks
• Facilitating trade financing via a global network of GTFP Confirming Banks
• Mitigating risk profile to counterparty banks • Eliminating cash collateral needs
• Delivering advisory services and training to improve operating standards
GTFP Product line
covEraGE For unFundEd TradE TransacTions
iFc covers import letters of credit (lcs) and standby letters of credit
(Sblcs), as well as the obligation of the issuer of performance bonds,
bid bonds, and advance payment guarantees.
covEraGE For FundEd TradE TransacTions
iFc covers the obligation of the issuer of a financial instrument for trade
financing on-lent to its clients. instruments such as promissory notes,
standby lcs, or credit guarantees in favor of participating confirming
banks that provide funds to the issuing bank can be covered under full
or partial guarantees from iFc. Trade finance credit from confirming
banks supports lc bill discounting or negotiation, bankers’ acceptance
financing, pre-export or post-shipment financing, and post-import
financing on a trade asset portfolio or for individual trade transactions.
GTFP
Global Trade Finance ProGram ifc.org/gtfp
GTFP Provides coverage for a
Variety of Trade-related instruments
samPlE TransacTions
advance Payment Guarantee: To support a Japanese engineering company building a power plant in Nigeria, GTFP issued a 100 percent guarantee for an $11 million transaction to the Confirming Bank in the U.K. The Issuing Bank was a local private sector bank in Nigeria.
letter of credit: GTFP provided a 100 percent guarantee on the import of $23.9 million worth of environmentally-friendly technologies into Russia for the construction of a new-generation coal-powered plant. The Confirming Bank was a Danish bank operating out of Finland; the Issuing Bank was a local private sector bank in Russia.
irrevocable reimbursement undertaking: GTFP extended a 45 percent guarantee to cover $1.7 million worth of fertilizer exports from Estonia to Togo, with an IRU issued by a private sector bank in Benin. The Confirming Bank was based in France.
discount against acceptance of lc documents: To enable shipments of raw cotton imports into Bangladesh, GTFP provided a 100 percent guarantee for $785,400 to the Discounting Bank based in Australia. The Issuing Bank was a local private sector bank in Bangladesh.
Promissory note:
Pre-Export Financing: To finance the export of rice from Paraguay to Brazil and Chile, a U.S.-based Lending Bank provided $850,000 in six-month pre-export funding to the Issuing Bank in Paraguay under a 100 percent guarantee from GTFP.
Post-Import Financing: A 100 percent guarantee from GTFP allowed a Lending Bank based in Spain to provide $123,000 in six-month post-import financing to the Issuing Bank in Costa Rica. The funds covered the import of medical equipment into Costa Rica from China.
bid bond: To facilitate implementation of an electronic check clearing system in the Dominican Republic by a Jordanian IT company, GTFP provided 100 percent cover for six months on the $20,000 transaction. The Issuing Bank was a private sector bank in Jordan; the Confirming Bank was based in the United States.
Performance bond:GTFP issued a 100 percent guarantee to cover the shipment of $15,000 worth of furniture from Pakistan to Saudi Arabia. The Confirming Bank was based in Saudi Arabia; the Issuing Bank was a local private sector bank in Pakistan.
Helping clients achieve international Standards
Trade Productscovers the basics in trade-related payment options, financial instruments and risks.
documentary credits covers the full process from the conclusion of the sales contract, establishment of the credit, and checking of documents to final payment.
Trade operations introduces a systematic approach to achieving a well-controlled and cost-effective back office that meets international standards.
Trade sales is an advanced course that focuses on the development and sales of the trade product within a commercial bank.
applied Trade Financehighlights the concept of risk and the dimension it introduces in the usage and application of trade finance practices.
Trade risk managementstrengthens risk-management skills related to trade transactions.
TEcHnical assisTancE and advisorY oPPorTuniTiEs
iFc’s Trade advisory Program is designed to help
GTFP participating banks build their capacity in
the areas of trade finance and international trade
operations. Since June 2006, over 4,100 participants
from more than 60 countries have benefited from trade
finance training programs as well as on-site advisory
services. This initiative is supported by iFc and
donors including Japan, Switzerland, the netherlands,
Sweden, ireland, Spain and israel.
benefits:
IFC provides local financial institutions with training and support in order to:
• Transfer current international best practices in trade finance to local markets
• Upgrade the operational and technical skills of trade finance back offices
• Improve trade finance risk mitigation techniques • Upgrade skills in structuring basic and complex trade
finance transactions
How does a bank Participate?
In order to identify the relevant trade advisory services for a particular client bank, IFC advisory services initially conducts a diagnostic study to assess needs and develop appropriate terms of reference. IFC advisory services will then work with the client bank to procure a suitable consultant to deliver the services proposed in the terms of reference.
Trade Finance certification Programis an IFC and ICC (International Chamber of Commerce) e-learning certification program on the finance of international trade.
introduction to Trade E-learning introduces partici-pants to the mechanics of import and export markets.
correspondent banking/KYc Workshop is designed to inform banks of international best practices to support an application for a correspondent banking relationship and to respond to a request from a bank related to its internal KYC compliance procedures.
Exporters/importers Workshop introduces aspects of trade finance and discusses financing solutions.
bank supervision and internal controls enhances
skills of commercial bankers working in Internal control de-partments and Bank Supervision staff of central Banks.
Trade and Supply Chain Solutions
GTFP is just one of several risk mitigation products available
from IFC. Contact our Global Business Development team to
learn more about our suite of innovations to address gaps
in the financing needs of underserved clients in emerging
markets:
• Global Trade Liquidity Program
mobilizes public
and private sector investment to share risk alongside
banks on portfolios that support emerging market trade.
• Global Warehouse Finance Program (GWFP)
helps increase the working capital available to food
producers and agricultural firms by guaranteeing and
lending against warehoused commodities.
• Global Trade Supplier Finance (GTSF)
lowers
the costs associated with financing suppliers in emerging
markets by purchasing receivables on invoices accepted
for payment by approved creditworthy buyers.
• Distributor Finance
allows banks to fund emerging
market distribution chains through risk sharing facilities
and partial guarantees for distributors and end-users.
• Structured Trade Finance
supports importers and
exporters in their cross-border trades of soft commodities
by providing funding or risk sharing with partner banks.
• Systemic Liquidity Solutions
provides loans to
local banks in a given country to support their working
capital and trade finance lending to SMEs.
• Critical Commodity Finance Program
mobilizes
public and private sector investment to share risk alongside
banks on portfolios that support agriculture and energy
commodities trade flows in emerging markets.
ifc.org January 2012
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T: +1 202 473 3175 E: [email protected] Bonnie Galat
Global Head, Business Dev. Global Banks & Multinationals T: +1 202 473 5335
E: [email protected] Scott Stevenson Senior Manager
Asia, Europe, and Middle East T: +90 212 385 2573 E: [email protected] German Vegarra Senior Manager Africa and Latin America T: +1 202 458 8209 E: [email protected]
Global Business Development
Sabrina Borlini Sr. Business Dev. Manager T: +32 (0) 478 947 087 E: [email protected] Zuberoa Mainz Business Dev. Officer T: +1 202 473 5573 E: [email protected] Michael Kurdyla Business Dev. Associate T: +1 202 458 0033 E: [email protected] Emiliano Agopian Trade Analyst T: +1 202 458 9113 E: [email protected] T: +27 11 731 3133 E: [email protected] Olivier Buyoya Trade Finance Officer T: +27 11 731 3025 E: [email protected] Asia Anurag Mishra Regional Head T: +91 77 3870 7535 E: [email protected]
Middle East & North Africa
Shehzad Sharjeel Regional Head T: +90 212 385 2561 E: [email protected] Ahmed H. E. Mohamed Trade Finance Officer T: +20 2 2461 9100 E: [email protected]
Latin America &
the Caribbean
Antonio Alves Regional Head T: +1 202 458 5056 E: [email protected] Jose Alberto Vivanco Trade Finance Officer T: +52 55 3098 0232 E: [email protected] Susanne Kavelaar Trade Finance Officer T: +54 11 4114 7200 E: [email protected] Karla Lopez Trade Finance Analyst T: +1 202 458 8683 E: [email protected] T: +7 495 411 7555 x2129 E: [email protected] Southern Europe Mark Rozanski Regional Head T: +1 202 473 4640 E: [email protected] Trade Operations Bilge Ozisik
Global Head, Trade Operations T: +90 212 385 2542 E: [email protected] Zeynep Ersel
Supervisor, Trade Operations T: +1 202 458 2502 E: [email protected] Murat Ayik
Supervisor, Trade Operations T: +90 212 385 2579 E: [email protected] Li Tang Operations Analyst T: +1 202 473 7678 E: [email protected] Beatrix von Heintschel Operations Analyst T: +1 202 473 0071 E: [email protected] Hande Berdan Operations Analyst T: +90 212 385 2523 E: [email protected] Sinan Onat Operations Analyst T: +90 212 385 2594 E: [email protected] E: [email protected]
Training & Advisory Services
Gimhani T. Seneviratne Global Head, Trade Advisory T: +27 11 731 3005 E: [email protected] Astou Sylla
Technical Assistance Coordinator, Asia
T: +66 88 659 59 15 E: [email protected]
Claudia Sandrine Ngassa Technical Assistance Coordinator, Africa
T: +27 11 731 3130 E: [email protected]
Claudia del Carmen Gutierrez Technical Assistance Coordinator, Latin America & the Caribbean T: +511 611 2566 E: [email protected] Communications John McNally Communications Officer T: +1 202 458 0723 E: [email protected] Administrative Support
Therese Ndeme Carroll Program Assistant & Graphic Designer T: +1 202 458 2232 E: [email protected] Inosha Wickramasekera Team Assistant T: +1 202 458 0991 E: [email protected] IFC 2121 Pennsylvania Ave., NW Washington, DC 20433, USA ifc.org/gtfp
