Summary of Investment Information
Project Number
31965
Company Name
ING Bank N.V.
Date SPI Disclosed
Mar 16, 2012
Country
World Region
Region
Global
Projected Board Date
Apr 17, 2012
Environmental Category
FI
Status
Completed
Last Updated Date
Nov 30, 2016
Department
Gbl Ind, Manufact, Agribus & Services
Industry
Telecommunications and Technology
Previous Events
Approved : May 8, 2012
Signed : Jun 29, 2012
Invested : Dec 12, 2012
Sector
Other
Project Description
CCFP (Critical Commodities Finance Program) is part of IFCs multi-faceted rapid response to the current financial crisis. As a crisis response initiative, CCFP will address eminent needs in terms of liquidity and unfunded guarantees and help avoid disruptions in the supply chain of commodities to and from emerging markets. The CCFP would be a portfolio-based program with total funding from IFC up to US$1 billion, Developmental Financial Institutions/Governments (“DFIs”) up to US$1 billion, and commercial banks up to US$2 billion that will be mobilized and disbursed under separate facilities for each participating bank in the program.
The proposed project with ING Bank N.V. (“ING” or the “Bank”), a bank incorporated in Amsterdam, the Netherlands, under CCFP, CCFP-IFC facility, will provide ING with a funded risk-sharing facility of up to US$250 million for a trade portfolio of up to US$500 million aiming at supporting both agri globally and energy sectors only in IDA and IDA-blend countries. The portfolio will consist of funded trade transactions originated by ING through its wide network of Emerging Market Issuing Banks (“EMIB”s) and corporate customers. Trade transactions will be subject to certain eligibility criteria.
The proposed project with ING Bank N.V. (“ING” or the “Bank”), a bank incorporated in Amsterdam, the Netherlands, under CCFP, CCFP-IFC facility, will provide ING with a funded risk-sharing facility of up to US$250 million for a trade portfolio of up to US$500 million aiming at supporting both agri globally and energy sectors only in IDA and IDA-blend countries. The portfolio will consist of funded trade transactions originated by ING through its wide network of Emerging Market Issuing Banks (“EMIB”s) and corporate customers. Trade transactions will be subject to certain eligibility criteria.
Sponsor / Cost / Location
Development Impact
E&S Category Rationale / Risks and Mitigation
Related Environmental Document
Contacts
For Inquiries About the Project, Contact
Trade Finance Services
Mr Peter Grevendonk
ING Commercial Banking
P.O. Box 1800, 1000 BV Amsterdam
The Netherlands
Agricultural Finance Central & Eastern Europe
Mrs Pieternel Boogaard
ING Eurasia ZAO
Krasnoproletarskaya 36
127473 Moscow
Mr Peter Grevendonk
ING Commercial Banking
P.O. Box 1800, 1000 BV Amsterdam
The Netherlands
Agricultural Finance Central & Eastern Europe
Mrs Pieternel Boogaard
ING Eurasia ZAO
Krasnoproletarskaya 36
127473 Moscow
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster