In addition, the IDB said three major commercial lenders that take part in the TFFP as confirming banks, Citibank, Standard Charter and Wachovia, signed a participation agreement to provide additional lending for trade financing operations.
The IDB launched the TFFP in 2005 to provide partial credit guarantees to boost trade financing for Latin American and Caribbean companies.
In response to the global economic crisis, the IDB expanded the TFFP to a maximum of $1 billion, up from its original $400 million limit.
ADB had said on April 1 that it would expand the TFFP
to USD1bn, a move that could generate up to USD15bn in much-needed trade support by the end of 2013, according to Zhao.
Project details : The is TFFP
line for National Commercial Bank Jamaica.
Project details :Uncommitted TFFP
credit line for Scotiabank Costa Rica, for up to US$10 million and 3-year term
By attracting private-sector capital through risk-sharing, and because the lending can be rolled over, the support offered under the TFFPs
is multiplied several times.