IFC, Japan Train Bankers in São Tomé and Príncipe to Support Trade Finance in Africa
This training is part of IFC’s Global Trade Finance Program, established in 2005 to promote trade flows between emerging markets, increase developing countries’ share of global trade, and support the flow of goods and services between these countries.
Eighteen bankers from seven banks in the country are participating in a five-day training session in São Tomé from March 7 to March 11. The week-long training is the second held in São Tomé by IFC’s Global Trade Finance Program. This course covers all aspects of trade finance, including the methods of payment in trade, giving participants a good understanding of all trade products.
Georgina Baker, IFC Director Short Term Finance, said, “Through its Global Trade Finance Program, IFC is supporting increased trade in Africa. Providing training is an important part of the program’s efforts to help banks in emerging markets provide trade finance to importers and exporters, particularly small and medium enterprises.”
Ms. Yasuë Miyanaka, Attachée Politique et Economique at the Embassy of Japan in Gabon, said, “Japan, in partnership with IFC, welcomes the Global Trade Finance Program’s training seminars, which encourage capacity building in Africa, contributing to its sustainable development.”
IFC’s Global Trade Finance Program offers confirming banks partial or full guarantees on payment obligations in the emerging markets for trade-related transactions. IFC’s trade advisory program is an integral component of this larger program and is designed to help local banks build their trade finance capacity.
The advisory program provides banks and other financial institutions with training and support to upgrade their skills in structuring basic and complex trade finance transactions, improve their techniques for mitigating trade finance risk, upgrade the operational and technical skills of their trade finance back offices, and transfer current international best practices in trade finance to local markets.
In Africa, more than 10000 bankers from 26 countries have benefited from 64 IFC trade finance training courses since 2006.
This article was originally posted on Sustainable Development Africa Platform
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