Export promotion agencies are mandated to provide services that aim to help national firms sell their products overseas and grow their markets internationally. Business access to financing is critical to achieving this goal.
That’s why a government agency for innovation funding and trade, travel and investment promotion, engaged Momentus (formerly IFCL). We were contracted to provide recommendations and a roadmap to enhance the agency’s service offering to businesses and exporters related to international financial instruments.
We worked closely with this client to address the problem of why local companies and exporters were not leveraging the different types of available financial instruments and services available to enter and succeed in global markets.
Our approach included a diagnostic analysis of the financing needs of these exporters and the financing landscape in eighteen selected markets globally. We examined the demand for financing through consultations with the relevant companies to understand their challenges and experiences in accessing financing from international financial institutions (IFI). We simultaneously conducted an extensive analysis of the supply of financing by multilateral development banks (including World Bank, IFC, African Development Bank, Asian Development Bank, Islamic Development Bank and InterAmerican Development Bank) in the selected markets.
Our recommendations provided insights into how our client can best support local exporters’ access to financing to expand in global markets through strengthened Team Finland cooperation to leverage existing strengths and financial expertise in other local public entities in addition to an IFI Account Management.