Eight members of the SME Finance Forum won the IFC's 9th-Annual Trade Awards, which recognize the most successful partner banks that have been active under IFC’s Trade Finance Program in 2019. 47 winners were selected based on a competitive process amidst a total network of over 500 banks. “
We’re proud of the contributions our members make each day to support businesses while ensuring the health of vital supply chains, especially during these challenging times. We are happy to see that their efforts are recognized globally.” said Matt Gamser, CEO of the SME Finance Forum.
On behalf of the SME Finance Forum global membership network, congratulations to the following winning members:
• Best Operations Bank in South Asia: BRAC Bank, Bangladesh
• Best Bank Partner for Women in Trade in South Asia: United Commercial Bank, Bangladesh
• Best Regional Confirming Bank in South Asia: DBS
• Fastest-Growing Bank Partner in EAP: XAC Bank
• Best Issuing Bank in Eastern Europe: Ukrgasbank, Ukraine
• Best Issuing Bank Partner, Africa: Access Bank, Nigeria
• Best Trade Finance Innovation Partner Bank: Standard Chartered Bank
Read the full IFC Press Release here: IFC Announces Winners of 9th Annual Trade Awards
About IFC Global Trade Finance Program
IFC started its Global Trade Finance Program in 2005 and expanded to other trade and commodity finance programs beginning in 2009. Now covering about 235 financial institutions in about 73 countries around the world, the program remains a critical form of support for thousands of underlying businesses in emerging markets, especially at a time when some global banks are starting to reduce their support for trade finance due to de-risking. The Global Trade Finance Program (GTFP) extends and complements the capacity of banks to deliver trade financing by providing risk mitigation in new or challenging markets where trade lines may be constrained. Under GTFP, IFC has issued guarantees covering over 54,000 transactions to date for more than $60 billion.
Learn more: IFC Trade Finance Partners
About SME Finance Forum
The SME Finance Forum. operates a global membership network that brings together financial institutions, fintech companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Members share a common commitment to advancing finance so that small and medium enterprises can flourish and grow. Join us and become part of a global forum of 190 Members and industry partners dedicated to accelerating SME finance.