Submitted by E.M. Williams on Wed, 19/11/2014 - 14:03
29 April 2014 – Following the launch of the BEI’s Sustainable Shipment Letter of Credit (LC) at the World Economic Forum in Davos in January 2014, the BEI has partnered with the International Finance Corporation (IFC) to enable preferential treatment for trade in agricultural goods that meet internationally-recognised sustainability standards.
Commodities guaranteed under the Global Trade Finance Program (GTFP) and shipped with a Sustainable Shipment LC and relevant accredited stamp will enable banks financing this trade to qualify for a preferential rate. This expectation is that banks will pass these incentives on to customers. RSPO (Roundtable on Sustainable Palm Oil) certified Palm oil is the first commodity to be made eligible for the programme, with more expected to follow.
Read about this partnership on the IFC website.
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