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HSBC, World Bank's IFC launch US$1 billion trade finance programme for emerging markets


Published on 2024-12-11 23:00:49 - Channel NewsAsia Singapore
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  • HSBC and the World Bank's International Finance Corporation (IFC) will jointly provide funding to trade transactions valued at up to US$1 billion, in a move to help fill a gap in financing for emerging market trade.

HSBC and the International Finance Corporation (IFC) have launched a US$1 billion trade finance programme aimed at supporting emerging markets. This initiative seeks to enhance trade finance availability in regions where access to such financial services is limited, thereby fostering economic growth and stability. The programme will provide guarantees, insurance, and liquidity to banks in these markets, helping them to facilitate more trade transactions. It particularly focuses on countries in Africa, Asia, and the Middle East, aiming to bridge the trade finance gap, reduce risk for local banks, and promote sustainable economic development. This collaboration leverages HSBC's global network and IFC's expertise in emerging markets to drive positive economic impact.

Read the Full Channel NewsAsia Singapore Article at:
[ https://www.channelnewsasia.com/business/hsbc-world-banks-ifc-launch-us1-billion-trade-finance-programme-emerging-markets-4802031 ]