IFC announced LOCKO-Bank “Best Partner in Emerging Europe”

On February 20, 2014 International Finance Corporation (IFC) named LOCKO-Bank the “Best Partner in Emerging Europe”. The award was granted during the Award Ceremony that was held in Lisbon, Portugal as part of the IFC «6th Global Trade Partners Meeting». This honorary award emphasizes LOCKO’s success in the development of its Trade Finance business in Russia. IFC is a member of the World Bank Group and the largest institution in global economic development.

Since 2006, IFC has been cooperating actively with LOCKO-Bank under the Global Trade Finance Program that facilitates trade in goods and services between developed and developing countries to support banks and companies in emerging markets. IFC provides guarantees for trade finance transactions of participating banks and covers risks of issuing banks. In 2013, IFC guaranteed 40 foreign trade finance transactions of LOCKO-Bank with total value of more than USD 100 million.