ADB boosts support for trade finance
(VOVWORLD) - The Asian Development Bank (ADB) on Monday approved 350 million USD in additional headroom to further expand the scope and impact of its Trade Finance Program (TFP).
(Photo: Livemint)
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Supporting more than 12,000 small and medium-sized enterprises (SMEs) in developing Asia since 2009, TFP helps reduce market gaps for trade finance by providing loans and guarantees to financial institutions to support trade activities in the region. The ADB said the additional financing will increase TFP's limit to 1.35 billion USD, keeping up with the increasing market demand for trade finance from the program, which grew over 50 percent in 2017.