Summary of Proposed Investment
Project Number
28131
Company Name
THE STANDARD BANK OF SOUTH AFRICA LTD
Date SPI Disclosed
Feb 27, 2009
Country
Africa Region
Industry
Financial Markets
Projected Board Date
Mar 31, 2009
Status
Completed
Sector
Trade Finance
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Mar 31, 2009
Signed : Jun 29, 2009
Invested : Jul 27, 2009
Project Description
The project is for IFC and funding partners (development finance institutions and international financial institutions) to provide trade financing of up to US$200 million to Standard Bank of South Africa Limited (“SBSA”) headquartered in South Africa, as part of IFC’s Global Trade Liquidity Program (“GTLP”).
GTLP is part of IFC’s multi-faceted global financial crisis response. It is a funded trade finance program of up to $8 billion that will be mobilized and disbursed in phases to provide IFC with a flexible platform from which to support the extension of funded trade financing to under-served clients globally. The proposed total IFC investment would be up to $2 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.
GTLP is part of IFC’s multi-faceted global financial crisis response. It is a funded trade finance program of up to $8 billion that will be mobilized and disbursed in phases to provide IFC with a flexible platform from which to support the extension of funded trade financing to under-served clients globally. The proposed total IFC investment would be up to $2 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.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Craig Polkinghorne
Global Head and Director, Structured Trade and Commodity Finance
Standard Bank of South Africa Limited
3 Simmonds Street
Johannesburg, South Africa
Telephone: 27 11 378 7955
Fax: 27 11 378 7909
Email: craig.polkinghorne@standardbank.co.za
Web site: www.standardbank.co.za
Global Head and Director, Structured Trade and Commodity Finance
Standard Bank of South Africa Limited
3 Simmonds Street
Johannesburg, South Africa
Telephone: 27 11 378 7955
Fax: 27 11 378 7909
Email: craig.polkinghorne@standardbank.co.za
Web site: www.standardbank.co.za
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
Local Access of Project Documentation
Standard Bank of South Africa Limited
3 Simmonds Street
Johannesburg, South Africa
3 Simmonds Street
Johannesburg, South Africa