BICBanco Brazil Joins IFC Trade Finance Program

Brazil’s Banco Industrial e Comercial (BICBanco) has become the country’s first bank to join the IFC’s Trade Finance Facilitation Program (TFFP) as an issuing bank. The program helps Brazilian companies wishing to export to developing nations, in particular within Africa, by offering guarantee coverage of bank risk in emerging markets. BICBanco, which specializes in trade finance, is the ninth-largest private bank, serving medium-sized companies.