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IDB welcomes Banco Improsa S.A. of Costa Rica to its Trade Finance Facilitation Program (TFFP)

The Inter-American Development Bank announced today the inclusion of Banco Improsa S.A. as Issuing and Confirming Bank into its Trade Finance Facilitation Program (TFFP). Under the TFFP, the IDB extends guarantees to cover letters of credit, promissory notes and other instruments used in the financing of international trade transactions. Membership in the TFFP will help Banco Improsa expand and diversify its sources of trade finance, to the benefit of its mainly small and medium-sized enterprise clients.


Launched in 2005, the TFFP constitutes an effective tool for the IDB to support economic reactivation and growth through the expansion of international trade financing available to Latin American and Caribbean companies.  The TFFP currently comprises a network close to 100 Confirming Banks from 49 different international banking groups, and 29 Issuing Banks in 14 Latin American and Caribbean countries,  with close to US$530 million in approved credit lines. To date, the IDB has issued guarantees for over US$144 million in support of 195 individual international trade transactions totaling more than US$197 million.  

Banco Improsa S.A.

With US$338 million in assets as of June 2007, Banco Improsa is a Costa Rican locally-owned bank specializing in small and medium enterprises, with tailor-made financial products and timely and personalized service.  In particular, the TFFP will benefit Banco Improsa's clients in the external sector, by enabling the bank to expand its trade finance activities and pass on these benefits to its exporting and importing clients.

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