OREANDA-NEWS. On March 12, 2007 the International Finance Corporation (IFC) increased the GTFP facility limit for LOCKO-Bank from USD5 million to USD10 million, reported the press-centre of  LOCKO-Bank.

The GTFP Issuing Bank agreement was signed between LOCKO-Bank and IFC in April last year together with the agreements for provision of RUR300 million 6-year loan for SME on-lending and purchase of 15% of LOCKO-Bank’s shares. Since then the utilization of the facility was steadily increased prompting the decision by IFC to provide a larger limit for the bank.

LOCKO-Bank believes that the increased IFC GTFP facility limit will help to attract new clients and extend its correspondent banks network.