ADB convenes Uzbekistan Banks to expand trade finance opportunities | Eurasia Diary - ednews.net

16 October, Wednesday


ADB convenes Uzbekistan Banks to expand trade finance opportunities

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The Asian Development Bank (ADB) today gathered more than 40 representatives from Uzbekistan’s central bank and 12 local banks to discuss recent developments in international trade finance. The ADB Trade Finance Program’s (TFP) experts updated the gathering on how trade finance is evolving in the region and globally, and shared recent case studies to support efforts by local banks to improve their trade finance products, Modern Diplomacy reports.

“Our trade finance conferences aim to deliver the ‘know-how’ that leads to more finance flowing to companies, including small and medium-sized enterprises (SMEs) to support trade,” said Investment Specialist at ADB’s Trade Finance Program Ms. Nana Khurodze. “Access to trade finance of these companies underpins growth, job creation, and better living standards.”

TFP works with 6 banks from Uzbekistan and has supported $1.4 billion in trade through 509 transactions as of April 2019. TFP has mobilized $801 million in cofinancing with banks domiciled in Uzbekistan. This cofinancing helps leverage ADB resources and brings more support for ADB’s developing member countries as well as exports, imports, growth, and job creation. 

In 2018, TFP grew almost 40% to support $6.2 billion in trade through 4,470 transactions.

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