IFC increases trade guarantees to USD 50 million for Romania's Bancpost

The International Finance Corporation (IFC) increased its trade guarantees to Bancpost, Eurobank EFG’s subsidiary in Romania, making more financing available to Romanian exporters and importers. IFC increased a trade credit line to Bancpost to USD 50 million, according to a statement.

Bancpost joined the Global Trade Finance Program in 2010 as the first issuing bank in Romania. The increased trade line will help the bank to up its trade finance business and offer more trade-related products to its small and medium enterprise and corporate customers. Since starting in 2005, IFC’s Global Trade Finance Program has issued more than 11,000 guarantees totaling USD 15.8 billion to banks on trade-related payment obligations of its financial institution clients in emerging markets. editor@romania-insider.com