FCI and EBRD join forcesWednesday 8 April 2015
FCI and ERBD join forces to launch the TFP e-learning Programme on Factoring
Amsterdam / London, April 9, 2015 – The European Bank for Reconstruction and Development (EBRD) and Factor’s Chain International (FCI), a leading network of global factoring companies, have agreed to launch a joint e-learning offering on factoring. Under the partnership agreement, EBRD Trade Facilitation Programme(TFP) partner banks will get access to the FCI’s Foundation Course on Factoring. The e-learning course provides basic knowledge on factoring – particularly on international factoring – and structuring such products. The course will be offered as part of the EBRD TFP e-Learning programme and targets partner banks in Eastern Europe, Northern Africa and the Middle East.
FCI’s e-learning Foundation Course is an introductory-level online course in English designed for beginners in factoring regardless of their seniority or position in the company. The course allows EBRD partner banks to provide their staff with internationally recognised training and help them to develop a firm knowledge of the factoring and receivables finance industry. The online training will target staff members who are directly involved in structuring trade finance products as well as relationship managers to help the EBRD partner banks market the product.
Rudolf Putz, Head of EBRD Trade Facilitation Programme, stated: “We are pleased to cooperate with FCI on this education project, as it demonstrates institutional partnership and fosters academic excellence in the EBRD countries of operation. The training course will provide essential theoretical knowledge about receivables finance and its uses in practice. At a time when access to financing limited, factoring provides an innovative approach in financing trade transactions.”
Peter Mulroy, FCI Secretary General, said: “FCI is delighted to be joining forces with the EBRD to support their members in Eastern Europe, Northern Africa and the Middle East. The partnership will positively contribute to the development of international trade. Open account trade finance through factoring has become an important initiative for many banks around the world and education is a cornerstone for the foundation of risk mitigation and growth in the service for the industry. We are pleased to support the EBRD in this important initiative and look forward to working together to spread factoring in these important markets.”
Cooperation with the development banks, trade organisations and local institutions in the factoring industry plays an important role in the education strategy of FCI. The Amsterdam-based organization offers dedicated online courses to build a better understanding of receivables finance and factoring among finance experts and provide technical and practical knowledge on this matter. In doing so, the FCI aims to facilitate the development of factoring around the world.