Summary of Proposed Investment
Project Number
28320
Company Name
COMMERZBANK AG
Date SPI Disclosed
Jun 1, 2009
Country
World Region
Industry
Financial Markets
Projected Board Date
Jul 23, 2009
Status
Completed
Sector
Trade Finance
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Sep 3, 2009
Signed : Nov 19, 2009
Invested : Mar 8, 2010
Project Description
The project is for IFC and funding partners (other development finance institutions, “DFIs”) to assume a funded trade finance risk participation for up to $500 million in the trade finance portfolio of Commerzbank AG, a bank incorporated in Germany, and located at Kaiserplatz, 60261 Frankfurt am Main Germany, structured under IFC GTLP’s initiative.
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 $1 billion, which will be leveraged with resources from other DFIs 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 will be up to $2 billion and will be leveraged with resources from other DFIs 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 $1 billion, which will be leveraged with resources from other DFIs 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 will be up to $2 billion and will be leveraged with resources from other DFIs 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
Ruediger Geis
Senior Product Manager Trade Services
Commerzbank AG
Financial Institutions
60261 Frankfurt am Main
Telephone: +49 69 136 2 98 59
Telefax: +49 69 136 2 98 40
Mobile: +49 172 695 72 50
ruediger.geis@commerzbank.com
Senior Product Manager Trade Services
Commerzbank AG
Financial Institutions
60261 Frankfurt am Main
Telephone: +49 69 136 2 98 59
Telefax: +49 69 136 2 98 40
Mobile: +49 172 695 72 50
ruediger.geis@commerzbank.com
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