IFC raises trade finance support ceiling for Belarusian BNB Bank

Friday 30 March 2018 00:33 CET | News

The International Finance Corporation (IFC) has increased the ceiling amount available to Belarusian OAO BNB Bank for trade finance support operations by USD 5.5 million.

As part of the Global Trade Finance Program (GTFP) in early March 2018 the IFC increased its guarantee line for supporting trade finance operations for BNB Bank by USD 5.5 million. The maximum duration for such operations was increased from one year to two years. At present BNB Banks total ceiling amount as part of the Global Trade Finance Program stands at USD 10 million.

BNB Bank is a private bank in Belarus, which is focused on lending to small and medium business. BNB Bank has been working with the IFC since 2010. Since then the total volume of trade finance operations facilitated by the Belarusian bank as part of the Global Trade Finance Program has exceeded USD 21 million.

The public joint-stock company (OAO) Belarusky Narodny Bank (BNB Bank for short) was established in 1992. The bank operates 17 outlets offering banking services in all the oblast capitals of Belarus. Bank of Georgia owns 99.98% of the Belarusian banks stock. BNB Bank offers a broad range of services to corporations and individuals, and assist with the development of small and medium private companies.

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Keywords: IFC, trade finance, OAO BNB Bank, Belarus
Categories: Banking & Fintech
Countries: World
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