"The trade-finance facility will provide the Union Bank of Colombo with risk coverage and access to a global network that will support growth of the bank’s trade-finance business," a statement said.
Risk Cover
L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.
Mar 29, 2011 (LBO) - The International Finance Corporation (IFC) said it will provide a five million US dollar trade-finance facility to Sri Lanka's Union Bank of Colombo. The funds will help boost international trade opportunities for the bank and its small-business and corporate-sector clients.