IDB Invest, a member of the Inter-American Development Bank (IDB) Group, has enlisted the Guyana Bank for Trade and Industry (GBTI) into its Trade Finance Facilitation Program (TFFP) through a guarantee and funding facility.
A joint release yesterday from IDB Invest and the bank said that the partnership will support GBTI as it diversifies its network of correspondent banks to offer trade products to more small and medium enterprises (SMEs) and clients in Guyana. The release added that the deal reinforces the commitment of IDB Invest and GBTI to create a hub for investment and trade for the country and the region while creating opportunities for the communities.
The programme will broaden support to existing industries, and new and emerging businesses in sustaining productivity and job creation, the release stated.