IFC grants USD 30 mln credit line to Romania’s Alpha Bank for international trade financing

The International Finance Corporation (IFC), a member of the World Bank Group, has extended a USD 30 million credit trade line to Alpha Bank Romania under its Global Trade Finance Program (GTFP). The program supports trade in emerging markets by providing partial or full guarantees for individual trade transactions backed by IFC’s triple-A rating. As an issuing bank, Alpha Bank Romania, a member of Greece’s Alpha Bank Group, will be able to expand its reach across the globe, support Romanian companies’ entrance into new markets, and increase trade ties across the European Union and beyond, according to an IFC statement. BCR, Romania’s largest bank also got a similar financing from the IFC this year. UniCredit Tiriac Bank, Banca Transilvania and Bancpost also benefitted from IFC’s Global Trade Finance Program in the past years. Since its inception in 2005, the Global Trade Finance Program has issued more than 21,000 guarantees totaling USD 36 billion to banks on trade-related payment obligations of its financial institution clients in emerging markets. The program includes more than 280 partner banks in over 95 emerging-market countries. Romania’s largest bank gets USD 50 mln credit line from World Bank Romanian UniCredit Tiriac Bank takes USD 20 mln from IFC to finance international trade companies IFC increases trade guarantees to USD 50 million for Romania’s Bancpost IFC lends USD 15 mln to Romania’s Banca Transilvania for lending to import-export firms editor@romania-insider.com