New trade finance partnership to help Surinamese businesses grow, create jobs, and strengthen access to essential goods
Suriname, May 18 -- To support Suriname's private sector at a pivotal moment for the economy, IFC, a member of the World Bank Group, and Finabank N.V. signed a new trade finance facility designed to help local businesses, especially small and medium enterprises (SMEs), import the inputs they need, expand exports, and create jobs.Under the agreement, IFC will provide a facility through its Global Trade Finance Program (GTFP), issuing guarantees to international banks for eligible transactions originated by Finabank. By enhancing confidence in trade finance instruments like letter of credits, the partnership is expected to facilitate access to global markets for Surinamese SMEs, while also expanding consumer choice and strengthening resilienc...
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