KARACHI: Standard Chartered Bank Pakistan Ltd has signed an unfunded risk-participation agreement with the International Finance Corporation (IFC), said a press release on Monday.

The $200 million rupee-equivalent programme will see the IFC cover 50 per cent of the commercial bank’s risk against short-term trade and working capital funded loan facilities for corporate clients.

“Standard Chartered and IFC aim to leverage their longstanding relationship with export-based industries in Pakistan to enable the generation of foreign exchange inflows, which remain critical for the sustainable growth of Pakistan’s economy,” it added.

Published in Dawn, November 14th, 2023