HSBC, World Bank's IFC launch US$1 billion trade finance programme for emerging markets

Quick Summary:

HONG KONG: HSBC and the World Bank's International Finance Corporation (IFC) will jointly provide funding to trade transactions valued at up to US$1 billion, in a move to help fill a gap in financing for emerging market trade.

FILE PHOTO: A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024.

The new facility is set up under IFC's Global Trade Liquidity Program, which has supported more than $80 billion in global trade volume through nearly 30,000 transactions over the past 20 years.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong KongMexico

Topics: Bank Emerging Global Hsbc Supply 2024 Mexico Trade Asia Statement Finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 08:03:00 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 323 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24366375

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