IFG signed an agreement with EBRD to deliver factoring education
International Factors Group (IFG) is delighted to announce that they have today reached an agreement with The European Bank for Reconstruction and Development (EBRD) whereby IFG will provide EBRD and its Trade Facilitation Programme Partner Banks with access to IFG’s unique e-Foundation Course in factoring.
IFG’s e-Foundation Course is a simple online programme designed for beginners in factoring/invoice financing regardless of their seniority or position in the client company. To maximise flexibility and audience, it is available in five languages; English, Russian, French, Spanish and Chinese.
The e-Foundation Course will be offered to EBRD Partner Banks and help to develop their knowledge of invoice finance/factoring.
Objectives identified for participation in the programme include:
– Enabling the course participants gain basic knowledge in factoring and enhance their skills in order to sell, utilize and process factoring transactions in line with established international standards;
– Equipping participants with sufficient knowledge to understand and avoid operational risks inherent in invoice financing;
– Providing issuing bank staff members and their clients with sound understanding of factoring principles allowing them to better structure trade transactions, improve risk assessment skills and identify opportunities where factoring could be utilized as a financing tool to facilitate the optimization of clients’ trade activities.
Erik Timmermans, IFG said: “This is excellent news; the e-Foundation Course will give EBRD’s partners access to proven quality education in factoring that will help them understand, develop and deliver a key solution for supporting businesses in the real economy.”
Rudolf Putz, EBRD, said: “We are delighted to be working with IFG on this education project, as it demonstrates institutional partnership and fosters academic excellence in the EBRD countries of operation. The e-Foundations Course in factoring will provide essential theoretical knowledge about receivables finance and its practical aspects. In times when access to working capital remains limited, factoring provides an alternative approach in financing trade transactions.
