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Kathmandu, Nepal, July 17, 2012
—IFC, a member of the World Bank Group, has hosted a trade finance training program for bankers in Nepal, part of an effort to prepare them for helping local entrepreneurs tap into the global marketplace.
The training, sponsored by the government of Japan, explored the potential of trade finance, which helps businesses connect with international customers and suppliers, spurring trade and economic growth. The initiative is part of IFC’s $3 billion Global Trade Finance Program, which supports banks in emerging countries as they channel credit toward trade-related transactions.
“Our bankers need to keep pace with developments in the global financial markets and act accordingly to stay competitive,” said Ashoke Sumsher J. B. Rana, president of the Nepal Bankers’ Association. "Through such international training programs, bankers in the country will learn how to use new trade finance products and exploit opportunities to increase external trade."
During the five-day training program, IFC showed participants how to fine-tune complex trade finance transactions, mitigate risks, and adopt international trade finance best practices in local markets.
“This training will augment the banks’ capacity to effectively design and use trade finance products and services to deliver better client solutions,” said Kyle Kelhofer, IFC Country Manager for Bangladesh, Bhutan, and Nepal.
Established in 2005, the Global Trade Finance Program has issued 11,700 guarantees for a total of $16.5 billion. In Nepal, IFC has partnered with five banks for this program. Additionally, the program has delivered 160 training modules over the last six years, and trained more than 4,300 bankers from over 50 countries.
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, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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