|Source:||Business Wire, Inc.|
The policy protects IFC against the risk of default by a local bank client and initially covers 50 local banks in 30 countries. This marks the first time that IFC has secured insurance to cover and expand its trade credit facilities.
Since its inception in 2005, the GTFP has issued more than 10,000 guarantees totaling
"IFC is playing a leadership role in driving global trade through the GTFP and creating lasting partnerships that are bringing economic growth and job creation to some of the world's poorest countries," said
Commenting on the new policy,
Marsh, the world’s leading insurance broker and risk advisor, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has around 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a member of
IFC, a member of the
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