IDB Invest reconfirms its partnership with Finabank and expands the total existing facility to an amount of US $ 8 million. IDB provides Finabank with a range of financial products, including credit facilities and letters of credit, for its clients in Suriname, for the import and export of services and products.
Finabank can do this through guarantees provided by IDB and by making use of IDB Invest’s extensive international network. After a series of thorough investigations or due diligence, IDB Invest has decided to expand the cooperation with Finabank because of the positive experiences of the past years, the solid financial solidity and the strong corporate governance structure and compliance, Finabank reports in a press release.
This gives Finabank further access to the international capital market to attract investors and guarantees international payment traffic by further strengthening and where necessary expanding its network of correspondent banks. Furthermore, Finabank will be given the opportunity to develop an environmental and social management system and to strengthen its AML / CFT program.