IFC is providing Exim Bank with a facility of up to $5 million within the GTFP. An agreement to this effect was signed yesterday between the bank and the IFC, says a press release.

Paolo Martelli, IFC regional director for South Asia, Per Kjellerhaug, IFC country manager for Bangladesh, Bhutan, and Nepal, and Kazi Masihur Rahman, managing director of Exim Bank, among others, were present at the signing ceremony.

The programme will provide the bank with risk coverage in a difficult market and a global network that will help grow its trade finance business.

The IFC's GTFP supports trade with emerging markets worldwide and promotes the flow of goods and services between developing countries, the release adds.