Colombia’s state-owned commercial bank Bancoldex announced the creation of a financial instrument for exporters for mitigating risk in international trade negotiations.
The new device, called the Compra de Cartera Internacional, is also said to allow entrepreneurs to receive their money in a timely manner, improve cash flow and increase sales to foreign buyers. It is intended specifically for companies that export to countries in which they have allied banks, such as Ecuador, Peru , Mexico and Brazil. It is also said to have benefits for importers such as better payment terms and improved line of credit.
The bank’s president Santiago Rojas said “the bank submitted to exporters this financial alternative that provides companies’ foreign customers with comfortable and convenient payment up to 180 days.”
“With this tool both win , both the Colombian exporter and the foreign buyer,” added Rojas.
Bancoldex was established as the country’s national bank in 1991 and is based in Bogota. It is incorporated as a mixed-capital corporation and operates under the same legal framework as private sector financial institutions.
Sources
- Crean mecanismo de pago a exportadores colombianos en el exterior (El Espectador)
- Compra De Cartera Internacional (Bancoldex)
