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Washington, D.C., August 4, 2008
—IFC, a member of the World Bank Group, today announced that Banco Regional S.A. has joined its Global Trade Finance Program as an issuing bank. The bank is a leading financial institution in the agricultural and agro-industrial sectors in southeast Paraguay that provides financial solutions for small and medium enterprises.
The IFC Global Trade Finance Program supports trade with emerging markets worldwide by providing risk mitigation. By extending and complementing banks’ capacity to deliver trade finance solutions, it aims to increase developing countries’ share of global trade and promote South-South flows of goods and services. IFC supports an extensive network of banks globally and has provided guarantees to facilitate trade for about $3.5 billion.
Nicolás Trociuk, President of Banco Regional, said, “IFC will facilitate our access to international markets and a global network of confirming banks, helping improve our capacity to serve import and export clients.”
Yolande Duhem, IFC Senior Manager for the Southern Cone, said, “Through our global trade program, IFC will provide additional credit to local small and medium enterprises and help develop Paraguay’s financial sector.”
IFC’s financial sector strategy in Paraguay focuses on providing long-term finance to underserved markets, including SMEs and low-income people. IFC partners with local financial institutions that align with IFC’s vision and strong commitment to supporting the development of these markets.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit
www.ifc.org
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About Global Trade Finance Program
Since launching the Global Trade Finance Program, IFC has issued $750 million in guarantees to facilitate trade flows with Latin America and the Caribbean. The network of issuing banks for the region has expanded to 25 banks in eleven countries: Argentina, Bolivia, Brazil, the Dominican Republic, Ecuador, Haiti, Mexico, Nicaragua, Paraguay, Saint Lucia, and Uruguay. More than 40 percent of the guarantees issued benefited local small and midsize businesses and supported interregional trade flows between emerging-market nations. Antonio Alves is the IFC Head of Trade Finance for Latin America and the Caribbean For more information, visit
www.ifc.org/gtfp
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About Banco Regional S.A.
Banco Regional, a rapidly growing company, was established in 1991 in Paraguay. Its headquarters is in Encarnación, with 23 branches, eight of which were opened in the past couple of years. The bank specializes in serving the agricultural sector and rural regions. It primarily covers the country’s southeastern region and the capital city of Asunción and surrounding areas.
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