Washington DC, April 13, 2001― “
On April 12 the Board of Global Trust Bank (GTB) announced a change of executive management. The International Finance Corporation in Washington, the private sector arm of the World Bank Group, is the second largest shareholder of GTB and has been a supporter of this bank since its inception almost 7 years ago. Last year IFC provided GTB with around US$8 million in Tier II capital and committed to lend, for its own account, up to $20 million to GTB’s clients. IFC fully endorses the management changes and looks forward with confidence to working with the new management team.”
The mission of IFC, part of the World Bank Group, is to promote sustainable private sector investment in developing countries which will reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets and provides technical assistance and advice to governments and businesses.
