Moscow, Russia, May 20, 2009
—IFC, a member of the World Bank Group, is providing Russia’s Transcapitalbank with a $20 million trade finance guarantee that will allow the bank to expand financing to its small-business clients throughout the country.
Transcapitalbank has joined IFC’s Global Trade Finance Program as an issuing bank. IFC will provide the bank with up to 100 percent guarantees for the import and export operations of its clients, including small and medium enterprises. The bank will have access to a global network of
more than 250 banks participating in the program.
“We are proud to join IFC’s trade finance program, which will give us more opportunities to generate international business of our customers,” said Olga Gryadovaya, Chairperson of Transcapitalbank. “New guarantees from such reputable institutions as IFC, particularly during these difficult times, will have a positive impact on our bank’s activities.”
Gryadovaya also noted that Transcapitalbank hopes to expand its client base, reaching more small and medium enterprises, and strengthen its network through the program. The bank has an extensive regional network from Novosibirsk to Rostov, with a presence in Bryansk, Perm, Ryazan, St. Petersburg, Syktyvkar, Tyumen, Voronezh, Yekaterinburg, and other regions of Russia.
Snezana Stoiljkovic, IFC Director for Central and Eastern Europe, said: “We are glad to start our cooperation with Transcapitalbank. By joining the IFC Global Trade Finance Program the bank will help Russian small and medium companies reach new markets and expand foreign trade in Russian regions.”
The IFC Global Trade Finance Program, launched in 2005, supports trade with emerging markets worldwide and promotes the flow of goods and services to and from developing countries. IFC provides partial or full guarantees for individual trade transactions and covers the payment risk of 150 issuing banks in 72 countries. The program allows issuing banks to increase the volume and value of trade transactions, with enhanced tenors and access to competitive pricing terms.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totalled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit
www.ifc.org
.
About Transcapitalbank
Transcapitalbank is one of the most dynamic banks in Russia and ranks 9
th
among the country’s most stable financial institutions. It is also the largest private-sector bank in the Perm Region and among the top 20 commercial banks in trade and structured finance in Russia. Transcapitalbank has been providing banking services for individuals and legal entities since 1992. It focuses mainly on corporate banking and supporting small and medium businesses in all sectors. For more information, visit
www.transcapital.com
.
