Colombia establishes financial mechanism to aid exporters

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.

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