Kuwait became a member of IFC in 1962. IFC's focus in the country is to catalyze South-South investments, by encouraging strong regional groups to invest in emerging markets. Business groups in the country possess significant expertise in numerous sectors, including telecommunications, retail, aluminium, and oil and gas. These investments will not only increase the flow of capital toward emerging markets, but will also guarantee the transfer of technology and know-how from companies based in the Gulf Cooperation Council countries.
In fiscal year 2007, IFC committed about $10 million in FIMBank to strengthen the bank’s capital structure and enable it to grow further. IFC’s investment will enhance FIMBank’s credibility in the target markets and enable it to expand operations in several developing countries. Read more...
In fiscal year 2008, IFC, as part of its Global Trade Finance program, also provided the Bank with a guarantee of about $0.3 million. IFC’s Global Trade Finance Program facilitates trade by providing guarantees to support both import and pre-export finance that cover payment risks in trade transactions with local banks in emerging markets, primarily for small and medium enterprises.
