IFC raises trade finance limit for MTBank to $15m
<p> MINSK, Jun 25 - PrimePress. The International Finance Corporation (IFC) has raised the limit on trade finance transactions for Belarus’ MTBank by 50% to $15 million in the framework of the Global Trade Finance Program (GTFP), MTBank said in a release. </p> <p> </p> <p> As a participant in the trade finance program, MTBank can offer corporate clients competitive and attractive financing terms. Cooperation under the global trade finance program is aimed at expanding access to foreign trade financing for private companies, so increasing the limit will provide additional opportunities for the development of international business of MTBank’s corporate clients. </p> <p> </p> <p> Established in 2005, GTFP has issued more than 63,000 guarantees to banks, totalling $23 billion, to assist their clients in developing markets. IFC has provided over $201 million in guarantees to Belarusian banks as part of GTFP. </p> <p> </p> <p> OAO Minsk Transit Bank was established in 1994.The bank’s shareholders are ENERGO-OIL (70%), Belneftegaz (30%). The bank’s ultimate beneficial owners are Alexei Oleksin and Inna Oleksina. </p> <p> </p> <p> In May 2009, MTBank signed an agreement with the International Finance Corporation and received a $3 million credit line under the Global Trade Finance Program. In November 2009, the credit line was increased to $5 million. In March 2010, IFC approved an increase in MTBank's limit under the GTFP program to $10m. End </p> <p> </p>
2020-06-26
Primepress
IFC raises trade finance limit for MTBank to $15m
MINSK, Jun 25 - PrimePress. The International Finance Corporation (IFC) has raised the limit on trade finance transactions for Belarus’ MTBank by 50% to $15 million in the framework of the Global Trade Finance Program (GTFP), MTBank said in a release.
As a participant in the trade finance program, MTBank can offer corporate clients competitive and attractive financing terms. Cooperation under the global trade finance program is aimed at expanding access to foreign trade financing for private companies, so increasing the limit will provide additional opportunities for the development of international business of MTBank’s corporate clients.
Established in 2005, GTFP has issued more than 63,000 guarantees to banks, totalling $23 billion, to assist their clients in developing markets. IFC has provided over $201 million in guarantees to Belarusian banks as part of GTFP.
OAO Minsk Transit Bank was established in 1994.The bank’s shareholders are ENERGO-OIL (70%), Belneftegaz (30%). The bank’s ultimate beneficial owners are Alexei Oleksin and Inna Oleksina.
In May 2009, MTBank signed an agreement with the International Finance Corporation and received a $3 million credit line under the Global Trade Finance Program. In November 2009, the credit line was increased to $5 million. In March 2010, IFC approved an increase in MTBank's limit under the GTFP program to $10m. End