HSBC and the World Bank’s International Finance Corporation will jointly provide funding to trade transactions valued at up to $1 billion, in a move to help fill a gap in financing for emerging market trade.
IFC and HSBC said in a joint statement that they would equally share the risk on a portfolio of trade-related assets held by emerging-market banks in 20 countries in Africa, Asia, Latin America, and the Middle East,
The deal aims to support cross-border trade and bolster exports in critical industries as economies face geopolitical tensions and trade barriers that could create uncertainty for supply chains and threaten economic growth.
