The International Finance Corporation (IFC) under World Bank Group has awarded Eastern Bank Limited (EBL) the Best Partner for Equipment Trade in South Asia under the Global Trade Finance Programme.
IFC's 9th Annual Trade Awards held recently recognised the partners' leadership in providing trade finance in emerging markets. EBL has been utilising IFC's facilities to support international trade businesses, offshore banking, and foreign currency funding requirements of its customers, reads a press release.
Managing Director and CEO of EBL Ali Reza Iftekhar said, "It has been an honour and privilege to receive this award which reflects how effectively and efficiently EBL has been supporting the businesses of the country by using its global correspondent banking and DFI relationship. It ensures a win-win outcome for the partners including customer engagement, Development Financial Institutions, global correspondent banks and EBL."
Makiko Toyoda, Acting Head of IFC's Global Trade Finance Programme, said, "We would like to offer our sincere appreciation for Eastern Bank's partnership in the Global Trade Finance Programme".