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The World Bank has contributed $ 1 billion as a partner in the Global Trade Liquidity Program, a coordinated global initiative involving governments, development finance institutions, and private sector banks expected to support up to $50 billion of trade in developing markets over three years.
The Bank's private sector arm, the International Finance Corporation (IFC), is acting as an agent on behalf of the program partners and plays a central role in mobilizing funds for trade finance.
The Bank is also supporting trade in emerging markets through the IFC's Global Trade Finance Program, which assists smaller banks and entrepreneurs to arrange for letters of credit and other forms of trade finance.
The resources of the program have been tripled from $1 billion to $3 billion.
The Banks is also helping countries improve their competitiveness and reduce trading costs through its Trade Facilitation Facility, a new $40 million multi-donor trust fund focused on measures to improve infrastructure, transport, logistics, and customs procedures.
Lending for trade-related infrastructure, regional integration, export development, and competitiveness and trade facilitation programs is also to be more than doubled to $3.6 billion in fiscal year 2009, up from $1.4 billion in FY2008 (July 2007-June 2008).
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