May 16, 2013 (LBO) – Small businesses in Sri Lanka and the Maldives will soon have access sophisticated financial products to engage in international trade, International Finance Corporation (IFC), a member of the World Bank Group said. The organization also provides advisory services to for small and medium enterprises by improving access to finance, and by offering capacity-building and training opportunities.
IFC had just completed training program for bankers from the two countries under its Global Trade Finance Advisory Program, which was funded by Japan.
“It is important for bankers to continuously increase their knowledge in trade finance to stay competitive,” IFC quoted Suguru Minoya, head of economic cooperation, Embassy of Japan in Colombo as saying.
“We believe IFC’s training in trade finance is timely, as both countries expand trade and investment.”
Learning to identify and mitigate operational risks by adopting international best practices in trade finance is important, IFC said.
It the program had helped bankers identify opportunities to connect local businesses with international customers and suppliers.
“IFC’s trade finance advisory program helps bankers keep pace with developments in g