... picture at the program level and to guide future program directions. Because of the nature of the program and ownership of the portfolio by regions rather than the central department, the routine ... the use of the program in the event of covenant breaches on the part of issuing banks. IEG identifi ed numerous cases where GTFP guarantees were issued at Evaluation of the International Finance ... Corporation’s Global Trade Finance Program, 2006–12, which assessed the context, relevance, effectiveness, and effi ciency of IFC’s Global Trade Finance Program (GTFP) and Global Trade Liquidity Program...