According to bank providd information, the proposed Project (“the Project”) is an investment of up to US$15 million in Yemen Kuwait Bank (“YKB” or “the Bank”) in the form of a trade finance guarantee facility. This project was approved as part of IFC's Global Trade Finance Program or GTFP
The Advisory Service engagement with the bank is to support its Strategy and Transformation Program. The main objective of the Advisory project with YKB is to develop 1) a well-defined and robust risk management framework; 2) a Business Plan and 3) a Digital Financial Services Strategy. This engagement will help the bank to better anticipate and manage its credit, operational, and liquidity risks and would allow the institution to build resilience in a rapidly growing, competitive albeit unstable market context. Given that the project was on hold for almost a year, the Advisory team will re-engage with the bank to confirm composition of the agreed earlier Advisory.
According to bank provided information, the Project consists of an investment of up to US$15 million under the Global Trade Finance Program (GTFP). GTFP offers confirming banks partial or full guarantees covering payment risk on banks in emerging markets for trade related transactions.
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