Juba, South Sudan, October 23, 2012—
IFC, a member of the World Bank Group, is training bankers in South Sudan on how to structure simple and complex trade finance transactions that will support increased trade and business development, strengthening the country’s economy.
In collaboration with the Bank of South Sudan and the South Sudan Bankers Association, IFC, through its Global Trade Finance Program, hosted a five-day trade finance training program in Juba in October for local banks that focus on international trade.
The training, based on international best practices, helped bankers upgrade their skills in structuring basic and complex trade finance transactions, and improved their techniques for mitigating trade finance risk.
Georgina Baker, IFC Director for Global Trade and Supply Chain Solutions, said, “IFC is providing banks in South Sudan with the skills they need to offer trade finance products to their clients and develop the country’s financial markets. With increased access to finance, local entrepreneurs can take advantage of new opportunities and grow their businesses, spurring economic development in the country.”
This training was the first of several that IFC’s Trade and Supply Chain Department plans to hold in South Sudan, which gained independence in 2011 and is working to build a strong and diverse economy, including increasing its levels of trade.
Since 2005, the Global Trade Finance Program has issued more than 13,000 guarantees totaling $20 billion to banks for trade-related payment obligations of their financial-institution clients in emerging markets. In fiscal 2012, IFC provided $2.9 billion to support trade in the world’s poorest countries, and 79 percent of all guarantees went to small and medium enterprises.
IFC is supporting private sector development in South Sudan with a number of advisory services programs that are supporting the growth of smaller businesses and improving the investment climate.
IFC has completed a small business market assessment in South Sudan, and is training local banks in credit risk management. IFC is also helping design agriculture and trade finance products to further support smaller businesses.
South Sudan is one of seven focus countries of
IFC’s Conflict Affected States in Africa (CASA) Initiative, which is supporting private sector development in countries recovering from conflict. CASA is supported by partners Denmark, Ireland, the Netherlands, and Norway.
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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