The Global Trade Finance Program supports trade with emerging markets worldwide and promotes the flow of goods and services between developing countries. IFC provides partial or full guarantees against underlying trade instruments and covers the payment risk of participating issuing banks.

The programme allows issuing banks, such as Southeast Bank, to increase the volume and value of trade transactions, with enhanced tenors and access to competitive pricing terms.

Neaz Ahmed, managing director of the bank, welcomed the partnership and said this would help his bank expand network of correspondent banks and create new and valuable business opportunities for the clients in Bangladesh and across the world.

Per Kjellerhaug, IFC's country manager for Bangladesh, Bhutan, and Nepal, said the programme is an important mechanism to get local banks into an active global network that facilitates transactions in challenging markets, promotes competitive financing, and builds correspondent bank relationships with new institutions on a low-risk basis.