Standard Chartered Bank Pakistan and the International Finance Corporation (IFC) are strengthening their partnership to boost access to trade finance in Pakistan. Building on the success of their existing USD 200 million Risk-Participation Facility, they are exploring expanding the program to USD 400 million. This increase will allow Standard Chartered Bank Pakistan to further support short-term trade and working capital needs of large local corporations and exporters.
This collaboration is a key part of IFC’s and Standard Chartered’s global efforts. It leverages their established relationships with export-oriented and large-scale manufacturing industries in Pakistan. The enhanced facility will provide greater access to trade and working capital loans, including supply chain financing and sustainable finance products. This increased access to finance aims to boost foreign exchange inflows, which are crucial for sustainable economic growth in Pakistan.
Rehan Shaikh, CEO & Head of Coverage at Standard Chartered Pakistan, expressed pride in deepening their relationship with IFC. He highlighted the bank’s role in expanding access to capital and liquidity, facilitating global trade across its extensive network. He emphasized the importance of this collaboration in supporting client growth and strengthening their potential.
Momina Aijazuddin, Regional Head of Industry of IFC’s Financial Institutions Group, emphasized the significant contribution of SMEs to Pakistan’s GDP and the limited access to formal credit they currently face. She stated that by strengthening their collaboration with Standard Chartered Pakistan and enhancing the Risk Participation Facility, they aim to support SMEs and export-driven sectors with the necessary working capital for growth and success. This initiative reflects the commitment of both organizations to supporting Pakistan’s economic development.
