Indonesia and Bangladesh receive $177 million in trade finance facilities

The two facilities double as a means of enhancing trade and improving banking reporting to the IFC.
March 05, 2001
Standard Chartered (SCB), the World Bank Group's International Finance Corporation (IFC) and the Dutch Development Agency (FMO) have committed a total of US$177 million for two separate trade finance facilities, one for Indonesia and the other for Bangladesh.

The first trade facility will be extended to Indonesia and comprises a US$125 million, five-year facility. The facility is designed to provide easier access to short-term financing for Indonesian businesses and additional letter of credit confirmation lines to selected local commercial banks. In addition, IFC will guarantee 40% of each transaction.

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