GTLP II Commerz

completed

The project (ID 29923) is for IFC and partners ((through IFC) other development finance institutions, “DFIs”) to assume an unfunded trade finance risk participation for up to $175 million in the “Continental Africa” trade finance portfolio of Commerzbank AG, a bank incorporated in Germany, and located at Kaiserplatz, 60261 Frankfurt am Main Germany, structured under IFC Global Trade Liquidity Program (“GTLP”) Initiative. GTLP which was originally started as part of IFC’s multi-faceted global financial crisis response offers both funded and unfunded solutions (“GTLP-G”). GTLP provides IFC with a flexible platform from which to support the extension of funded and unfunded trade products to under-served clients globally. GTLP-G is an extension of the GTLP and seeks to offer unfunded solutions. It has high relevance for Africa where unfunded transactions are both typical and where there is need for unfunded participations. The proposed investment will be leveraged with resources from other DFIs as well as Commerzbank AG, a partner with an established footprint in emerging markets trade finance.