BIF Becomes First Peruvian Bank to Join IFC's Global Trade Finance Program

Washington, D.C., March 30, 2009—IFC,a member of the World Bank Group, announced that Banco Interamericano deFinanzas (BIF) has become the first bank in Peru to join its Global TradeFinance Program, to increase short-term financing for export and importsmall and medium local firms and help mitigate the impact of the globalfinancial crisis.

With IFC’s support, BIF will expandits trade finance capacity, as an issuing bank, to provide loans for pre-exportand post-export operations in key job-creating sectors in Peru, includingtextiles, manufacturing and fishery.  

The IFC Global Trade Finance Programsupports trade with emerging markets worldwide by providing risk mitigation.By extending and complementing banks’ capacity to deliver trade financesolutions, IFC aims to increase developing countries’ share of globaltrade and promote South-South flows of goods and services. The programnow has a network of more than 300 participating banks from around theworld.

“Joining IFC’s Trade Finance Programwill help us provide trade solutions to our clients and take advantageof the opportunities brought by the recently signed bilateral free-tradeagreement with the U.S., one of Peru’s main trading partner.” said JuanIgnacio de La Vega, BIF’s General Manager.

Roberto Albisetti, IFC Country Managerfor Colombia, Ecuador, Peru and Venezuela, said, “IFC´s support to BIFis in line with our strategy in Peru to improve access to finance for SMEsand to expand global trade opportunities for local firms, helping mitigatethe impact of the financial crisis”.

IFC strategy in Peru is to promote sustainabledevelopment by supporting private sector projects. Priority sectors includethe financial, microfinance, infrastructure, agribusiness, and tourismsectors. IFC is also developing programs to enhance social benefits ofthe extractive industry and has extensive programs to help improve investmentclimate for local businesses. As of June 2008, IFC’s committed portfolioin the country was close to $500 million.

Since launching the Global Trade FinanceProgram, IFC has issued $1.3 billion in guarantees to facilitate tradeflows with Latin America and the Caribbean. The network of issuing banksfor the region has expanded to 33 banks in 13 countries. More than 40 percentof the guarantees issued benefited local small and midsize businesses andsupported interregional trade flows between emerging market nations.  Formore information about the program, contact Antonio Alves, Head of TradeFinance for Latin America and the Caribbean Region, at

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IFC, a member of the World Bank Group,creates opportunity for people to escape poverty and improve their lives.We foster sustainable economic growth in developing countries by supportingprivate sector development, mobilizing private capital, and providing advisoryand risk mitigation services to businesses and governments. Our new investmentstotaled $16.2 billion in fiscal 2008, a 34 percent increase over the previousyear. For more information, visit

BIF has been an IFC client since 2007and is the fifth-largest commercial private bank in Peru. Since its foundation,it has focused on commercial banking with emphasis in foreign trade andcorporate banking. For more information please visit:

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