Date: 2nd June 2009
Himalayan Bank Limited (HBL) has collaborated with International Finance Corporation (IFC) and entered into a Guarantee Facility Agreement under IFC Global Trade Finance Program with effect from May 28, 2009.
Mr. Ashoke SJB Rana, Chief Executive Officer on behalf of Himalayan Bank Limited and Mr. Per Kjellerhaug, Regional Manager on behalf of International Finance Corporation, Washington D.C signed the agreement amidst a function.
Under agreed credit line, IFC shall provide IFC Guarantees in favor of a Confirming Bank/(s) in support of the payment obligations of HBL arising under Eligible Instruments issued or to be issued by HBL in connection with exports and imports by the customer of HBL.
The credit line with IFC will facilitate HBL with easy financial standing in Global Trade Finance which will in turn help customers of HBL to avail easy and cost effective international finance services.