Standard Chartered and IFC Renew Global Trade Facility
(14 April 2023 - Global) Standard Chartered and IFC have signed a $700m investment in IFC’s Global Trade Liquidity Programme (GTLP) aimed at supporting global trade finance.
Since the launch of the initial facility in 2009, facilities under the program have reportedly supported over $20.5b in global trade over 150 merging Market Issuing Banks (EMIBs) in 37 countries across 17,746 transactions, without any defaults.
This renewed facility is expected to support up to $6.4b in trade over three years across Asia, the Middle East, Africa and Latin America.
It is estimated to support about 850 importers and exporters involved in critical commodities, basic goods and other essential materials to meet market demand, Standard Chartered said in a press release.
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