IFC Helps JSC BPS-Bank Expand Access to Trade Finance in Belarus

In Washington, D.C: 
Aliza Marcus                                                 
Phone: (202) 473 8168 
E-mail: AMarcus@ifc.org 

In Minsk: 
Nadezhda Sinelnik 
Phone: +375 (17) 228 1838 
E-mail: NSinelnik@ifc.org  




Minsk, Belarus, November 5, 2009—IFC, a member of the World Bank Group, is 
partnering with JSC BPS-Bank,  one of the largest banks in Belarus, to expand 
access to trade finance for small and medium companies in Belarus. 

IFC is providing the bank a $30 million guarantee through its Global Trade 
Finance Program. This will allow the bank to further expand its trade-finance 
operations and thus contribute to foreign trade development in Belarus. 

“We are pleased to start our cooperation with IFC with this much-needed 
product,” said Galina Kukhorenko, general director of BPS-Bank. “IFC’s trade 
finance program will give us more opportunities to support international 
transactions of our customers globally and get access to the global network of 
partner banks participating in the program.” 

Craig Bell, IFC representative in Belarus, said:  “Trade finance is one of the 
most demanded products today as it helps restore trade ties between companies 
and countries. We see a significant potential for expansion of our Global Trade 
Finance Program in Belarus, in partnership with such well-established 
institutions as BPS-Bank. We believe it will open and expand foreign trade 
opportunities for BPS-Bank’s clients.” 

IFC’s Global Trade Finance Program supports trade in emerging markets by 
providing partial or full guarantees for individual transactions, using payment 
risk guarantees to international banks that issue financing to local banks. The 
program helps banks boost their capacity for delivering trade finance in 
challenging markets where such financing may be limited. Since being launched 
in 2005, the program has issued more than $5.5 billion in guarantees worldwide 
through a network of more than 350 banks. 

About IFC 
IFC, a member of the World Bank Group, creates opportunity for people to escape 
poverty and improve their lives. We foster sustainable economic growth in 
developing countries by supporting private sector development, mobilizing 
private capital, and providing advisory and risk mitigation services to 
businesses and governments. Our new investments totaled $14.5 billion in fiscal 
2009, helping channel capital into developing countries during the financial 
crisis. For more information, visit www.ifc.org. 

About BPS-Bank 
JSC “BPS-Bank” was founded in 1923 and remains one of the oldest and largest 
banks in the Republic of Belarus. The bank provides its customers with a full 
range of credit services. One of the priority directions in the activity of JSC 
“BPS-Bank” is financing of investment projects of enterprises of various forms 
of ownership. The bank is one of the leading banks in the trade finance market 
of the Republic of Belarus. For more information, visit www.bpsb.by.