ADB supports Trade Finance Program in Asian nations

This year alone, TFP will support more than $4 billion in trade. While TFP operates in 18 countries, its most active markets are Bangladesh, Pakistan, Viet Nam and Nepal. Over 40% of TFP’s portfolio supports trade between its developing member countries, and in the first six months of 2012, TFP supported 591 small and medium-sized enterprises (SMEs).

The program supports a wide range of trade transactions, from commodities and capital goods to medical supplies and consumer goods.

"The Program also supports a lot of transactions in the textile sector." the head of TFP, Steven Beck said.  "In particular, we frequently help partner banks finance the purchase of looms, sewing machines and cotton, much of it in Bangladesh, Pakistan and with some of the cotton coming from Uzbekistan."

In addition to the TFP, ADB is in the process of launching a Supply Chain Finance Program which is also projected to be active in the textile/garments sector.

Asian Development Bank (ADB)