IFC and Spanish Agency support business in Latin America
IFC, a member of the World Bank Group and the Spanish Agency for International Development Cooperation (AECID) are training 26 bankers from Argentina, Bolivia, and Paraguay to improve their trade finance operations, reduce risks, and better serve small and medium businesses in their countries.
The participants representing 11 banks in Argentina, Bolivia, and Paraguay are engaging in a five-day training session in Asunción between November 5 and 9. Through its Advisory Services, IFC provides banks and other financial institutions with training and support to upgrade their capacity to structure basic and complex trade-finance transactions and mitigate trade-related risks. These services aim to improve operational and technical skills within trade-finance offices and transfer current international best practices to local markets. Through its Global Trade Finance Program, IFC is supporting increased trade in LAC, said Georgina Baker, IFC’s Director for Global Trade and Supply-Chain Solutions. Providing training is an important part of the program’s efforts to help emerging-market banks provide trade finance to importers and exporters, particularly small and medium enterprises. IFC’s Global Trade Finance Program offers confirming banks partial or full guarantees on payment obligations in emerging markets for trade-related transactions, and its Advisory Services help local banks build their trade-finance capacity.