GTFP- IDA PSW IFC as implementing entity of the IDA Private Sector Window Blended Finance Facility (IDA PSW BFF) is expected to support IFC with two unfunded guarantee products of up to US$400 million under Global Trade Finance Program (GTFP - https://disclosures.ifc.org/#/projectDetail/SPI/23898): (i) pooled first loss (FL) of up to US$150 million and (ii) revolving limit enhancement (LE) of US$250 million that is expected to help GTFP leverage at least US$1 billion in trade finance in IDA PSW eligible countries. The indicative size of each component may change depending on market needs.   Without the support under the IDA PSW, IFC will not be able to provide the necessary trade finance in IDA PSW countries given the high risk inherent in booking trade finance transactions in these countries, in particular with a focus on fragile and conflict-affected states that are expected to be severely impacted by COVID-19. IDA PSW support will benefit the real sector importers and exporters that the local banks serve.  The level of concessionality (i.e. subsidy) to be provided under the IDA PSW support is estimated to be approximately 3% as a percentage of the expected US$1 billion incremental trade activity in IDA PSW eligible countries.. This estimate is based on the difference between (i) a reference price (either a market price if available; the price calculated using IFCs pricing model, which comprises three main elements: risk, cost and profit; or a negotiated price) and (ii) the concessional price being charged for the IDA PSW FL coverage. LE is being provided by IDA PSW on the same terms as IFC and, thus, without price concessionality. Further details and historical information on estimated subsidy levels in IFCs blended finance portfolio can be found at:  www.ifc.org/blendedfinance . As is the case with all of IFCs blended concessional finance co-investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Enhanced Principles and IFCs blended finance approach and governance can also be found at:  www.ifc.org/blendedfinance . The aim to launch this facility is to assist the local banks in surviving the current market situation and bridging the financing gap. It is expected that, over time, with proper scale, IFC and other DFIs/ FIs would be able to support similar facilities/ FIs, potentially without/ with lower FL. To support this increase in trade volumes at this most critical time, IFC is open to engaging with other partner banks on similar structures, including when relevant with the support of blended concessional finance. The project builds on GTFP's global platform, increasing access to trade finance to emerging markets.  The Project will provide increased access to trade finance to the Issuing Bank's customers, including both corporates and SMEs. On the market side, the project will further connect the Issuing Bank's cross border connections, increasing the country's integration through both financial and real sector channels.  It will help to link more traders to other countries and connect the country's financial markets more deeply.