GBTI hosts collaborative trade finance workshop with IFC
GUYANA Bank for Trade and Industry Limited (GBTI) hosted a trade finance workshop last August 29 to help enhance customers’ knowledge on international trade documentation and trade financing. A press release said it was in collaboration with the International Finance Corporation (IFC) and was facilitated by Mr. Jean-Louis Lemaire, a retired banker and now senior consultant with the IFC, who offered guidance to participants on various solutions for strengthening their trade business with their international counterparts.
GBTI Chief Executive Officer (CEO), Mr. John Tracey, in brief opening remarks, thanked those who participated for taking the time to attend.
He acknowledged the benefits of such an exercise but voiced his concern that training sessions, like it, are not held as often as they should in Guyana, especially since they are frequently conducted in other Caribbean countries.
Deeming the Private Sector as the dynamic force which boosts a country’s growth, Tracey challenged the local Private Sector to catch up and act as a catalyst for moving forward.
The release also said the participants were pleased to be given exposure to the training and many stated that it was the first such workshop they had ever attended.
Mr. Nazir Aziz, a representative of Caribbean Chemicals, said it was informative as the participants learned of various trade securities.
The release said GBTI became a member of the IFC’s programme in February 2011 and at the launch of the GBTI-IFC Trade Finance Facility, the bank stated its intention to invite personnel from the IFC to conduct workshops for the local business community.
It said the IFC’s Global Trade Finance Programme offers companies the opportunity to increase their international business transactions using its guaranteed documentary credit facilities.