Summary of Proposed Investment
Project Number
28169
Company Name
STANDARD CHARTERED BANK
Date SPI Disclosed
Sep 21, 2009
Country
World Region
Industry
Financial Markets
Projected Board Date
Oct 22, 2009
Status
Completed
Sector
Trade Finance
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Nov 5, 2009
Signed : Apr 20, 2010
Project Description
As a result of the financial crisis, flows of trade finance to emerging markets countries have fallen in excess of the reduction in trade flows. The global reduction in trade finance is mostly the result of scarcity of capital, reduction in liquidity, and exit of certain market participants. In order to expand its trade finance operations in emerging markets, Standard Chartered Bank has approached IFC with a request to provide capital relief on a revolving portfolio of trade related exposures, through a mezzanine risk sharing investment of up to $60 million. The portfolio will consist of a mix of funded and unfunded trade finance exposures to banks and financial institutions to support trade in emerging markets.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Vibhuti Sharma
Managing Director, Global Head – Development Organizations
Standard Chartered Bank
1 Madison Avenue3/F
New York NY 10010, USA
Fax: +1-212-667-0120
Managing Director, Global Head – Development Organizations
Standard Chartered Bank
1 Madison Avenue3/F
New York NY 10010, USA
Fax: +1-212-667-0120
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