COLOMBO, SRI LANKA--(Marketwired - Oct 9, 2013) - Apparel leaders Brandix and MAS have launched trade funding programs to access capital through the GT Nexus platform. The International Finance Corporation (IFC), a member of the World Bank Group, will deliver trade supplier finance facilities as part of its Global Trade Supplier Finance program.
"The GT Nexus platform is the backbone of this program," said Kurt Cavano, Chief Strategy Officer at GT Nexus. "IFC has visibility into trading partner information and transaction data through GT Nexus that make it possible for the financial strength of the strongest party to be leveraged to deliver more competitive financing opportunities in the supply chain. Tapping into a cloud based network allows financial services providers to have deeper visibility into transactions, which results in greater financing opportunities for them and lower capital costs for the parties involved."
GT Nexus is an automated trade environment that delivers essential data to IFC throughout the transaction lifecycle, including real-time alerts and event-driven updates that mitigate financial decision risk. Processing is built into the transaction workflow and as a result, manufacturers access capital sooner and at better rates than typical terms obtained elsewhere.
"IFC couples its support with comprehensive onboarding and training programs to help suppliers improve their working capital management," said Georgina Baker, Director of Global Trade and Supply Chain Solutions at IFC. "The program levels the playing field by allowing smaller businesses to access financing at competitive terms, making those suppliers more attractive to global buyers."
IFC's program, designed to boost international trade opportunities, is the first such offering in South Asia. Established in 2010, the IFC Global Trade Supplier Finance program is a $500 million multicurrency investment and advisory program that provides short-term finance to emerging-market suppliers and small and midsize exporters.
More than $100 billion in trade from over 25,000 businesses is managed on the GT Nexus platform each year.
About GT Nexus
GT Nexus operates the world's largest cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including adidas Group, Caterpillar, Citi, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Kohl's, Nestlé, Pfizer, Renault, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate against a core, real-time and always on set of information across multiple supply chain functions, allowing them to optimize the flow of goods, funds and trade information, from the point of order through final payment. For more information please visit us at www.gtnexus.com.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.