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Standard Chartered Bank, IFC enter Risk-Participation agreement

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Standard Chartered Bank Pakistan has signed an un-funded Risk-Participation Agreement with the International Finance Corporation. The USD 200 million PKR equivalent programme, will see the IFC cover 50% of Standard Chartered’s risk against short term-trade and working capital funded loan facilities for corporate clients based in Pakistan.

Standard Chartered and IFC aim to leverage their long-standing relationship with export-based industries in Pakistan to enable the generation of foreign exchange inflows which remain critical for the sustainable growth of Pakistan’s economy.

These inflows will be made possible through the enhanced availability of trade and working capital loan facilities including supply chain financing and sustainable finance product suites for large-scale manufacturers. aThis programme is a key milestone of IFC and Standard Chartered’s global collaboration that can be replicated across emerging markets to facilitate trade flows.

Sarmad Lone, Head of Client Coverage, Corporate, Commercial and Institutional Banking (CCIB) for Standard Chartered in the Africa and Middle East region said, “Building on a longstanding partnership with IFC, we are delighted with this first of its kind agreement between IFC and Standard Chartered in Pakistan.

As a trade focused bank with a rich network of over 50 markets across Asia, Africa & the Middle East, we play a crucial role in enhancing the accessibility to capital and liquidity to facilitate global trade.

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