Summary of Investment Information
Project Number
32348
Company Name
STANDARD CHARTERED PLC
Date SPI Disclosed
May 1, 2012
Country
World Region
Region
Global
Projected Board Date
Jun 5, 2012
Environmental Category
FI-3 - No Impact
Status
Completed
Last Updated Date
Jun 12, 2021
Department
Global Industry, Financial Markets
Industry
Financial Markets
Previous Events
Approved : Mar 7, 2013
Signed : Nov 4, 2013
Invested : Mar 19, 2014
Sector
Trade Finance
Project Description
As part of IFC’s multi-faceted global financial crisis response, Global Trade Liquidity Program (“GTLP”) is being extended in order to address the current liquidity needs in the market which is affecting the availability of trade finance funding for emerging markets. Under GTLP, IFC is considering a total investment of up to $1 billion, which will be match-funded with resources from other development finance institutions (DFIs) and international financial institutions (IFIs) as well as several international banks with an established footprint in emerging markets trade finance.
IFC’s premiere crisis response initiative, GTLP is a unique global public-private partnership (PPP) collaboration with 20 partners, public and private, that brings together governments, development finance institutions, and private sector banks to support trade in developing markets in order to address the shortage of trade finance resulting from the global financial crisis. Significant achievements have been made to date: 5 global deal of year awards, total program disbursements almost $4 billion (DFIs $1.3 billion, IFC $0.6 billion, and banks $1.9 billion) financing over $20 billion of trade transactions financed with zero losses, and over 80 percent benefiting SMEs, and more than 30 percent supporting low-income and lower middle income countries. Funding for this crisis response program came from development institutions and governments, and it worked through over 200 global and regional banks to extend trade finance ultimately to SMEs. GTLP provides IFC and its partners with a proven foundation of experience, a partnership platform, and lessons that can be leveraged to develop other innovative solutions to tackle global strategic priorities such as supporting the financial sector, SMEs and agriculture.
The Project is the extension of a funded facility for IFC and funding partners (DFIs and IFIs) to provide trade financing of up to $500 million to Standard Chartered Plc (“SCB” or the “Bank”) headquartered in London, United Kingdom, as part of IFC’s GTLP Extension.
IFC’s premiere crisis response initiative, GTLP is a unique global public-private partnership (PPP) collaboration with 20 partners, public and private, that brings together governments, development finance institutions, and private sector banks to support trade in developing markets in order to address the shortage of trade finance resulting from the global financial crisis. Significant achievements have been made to date: 5 global deal of year awards, total program disbursements almost $4 billion (DFIs $1.3 billion, IFC $0.6 billion, and banks $1.9 billion) financing over $20 billion of trade transactions financed with zero losses, and over 80 percent benefiting SMEs, and more than 30 percent supporting low-income and lower middle income countries. Funding for this crisis response program came from development institutions and governments, and it worked through over 200 global and regional banks to extend trade finance ultimately to SMEs. GTLP provides IFC and its partners with a proven foundation of experience, a partnership platform, and lessons that can be leveraged to develop other innovative solutions to tackle global strategic priorities such as supporting the financial sector, SMEs and agriculture.
The Project is the extension of a funded facility for IFC and funding partners (DFIs and IFIs) to provide trade financing of up to $500 million to Standard Chartered Plc (“SCB” or the “Bank”) headquartered in London, United Kingdom, as part of IFC’s GTLP Extension.
Sponsor / Cost / Location
Development Impact
E&S Category Rationale / Risks and Mitigation
Related Environmental Document
Contacts
For Inquiries About the Project, Contact
IFCGTLP@ifc.org
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