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Minsk, Belarus, June 3, 2013
—IFC, a member of the World Bank Group, and BPS-Sberbank are working together to improve access to finance for export-oriented small and medium businesses in Belarus.
IFC will increase its trade finance guarantee to BPS-Sberbank, a leading trade finance intermediary in Belarus, to $50 million. Two years ago the bank became the first in the country to become a confirming bank in IFC’s Global Trade Finance Program (GTFP), which broadens access to finance for companies and reduces risks for local banks. BPS-Sberbank joined GTFP in 2009, and since then it has supported trade finance deals worth over $85 million.
“The increase will allow us to enhance our ability to provide efficient solutions for our clients and open new opportunities for them,” said Vasil Matsiusheuski, BPS-Sberbank Chairman.
Established in 2005, GTFP has issued more than 15,000 guarantees to banks, totaling $23 billion, to assist their clients in developing markets. IFC has provided over $201 million in guarantees to Belarusian banks as part of GTFP.
“Support for local banks has been the focus of our work in the Belarusian financial sector for the past several years,” said Rufat Alimardanov, IFC Regional Manager for Ukraine and Belarus. “This helps local companies reach new markets and further expand their foreign trade, and encourages investment in Belarus.”
In 2012, IFC provided $3 billion to support trade in the world’s poorest countries, and 81 percent of all guarantees went to small and medium enterprises. GTFP includes more than 260 partner banks in more than 90 emerging markets.
About IFC
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 investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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