The World Bank arm, IFC has recently said that the company will be providing close to $25 million to India's Federal Bank to enhance its support to small and medium enterprises and help boost international trade opportunities.

While the deal will primarily focus on expanding small business in the country, it will also take the Indian banking giant on a global level. P C John, executive director, Federal Bank, said that the deal from its long-term finance partner IFC will help the company to boost the small and medium businesses in the Indian market.

Moreover, John also pointed out the fact that the company will be looking at offering short-term foreign-currency trade finance products.

It may be noted here that Federal Bank is the second Indian bank supported under IFC's global trade finance programme, the other being Kotak Mahindra.

The deal comes under the global trade finance program started by IFC in the year 2005. Notably, the motive of this program is to facilitate an increase in developing countries' share of global trade and promote flows of goods and services between these nations.