WASHINGTON, USA — Finabank NV, the fourth largest commercial bank in Suriname, signed an agreement with IDB Invest to join their Trade Finance Facility Program (TFFP). Finabank is currently the only bank in Suriname with an active credit line within the TFFP.
The agreement with IDB Invest gives access to trade finance loans and credit guarantees that will enable Finabank to continue growing in Suriname, and to enter new trade finance markets within the Caribbean and the rest of the world.
The Trade Finance Facilitation Program has been set up to promote development and economic growth in the region through the expansion of trade financing to Latin America and Caribbean banks, broadening the sources of trade finance available to importers and exporters and to support internationalization.
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region.
With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.