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Business EconomyPosted at: Feb 21 2018 7:41PM


According to the International Chamber of Commerce 2016 Global Survey on Trade Finance, nearly 75 percent of respondents reported that Multilateral Development Banks (MDBs) and ECAs help narrow trade finance gaps.
The Study highlights the stabilizing role played by ECAs in terms of easing the financing terms and increasing the supply of trade finance. In the aftermath of the Global Financial Crisis, involvement of ECAs in trade transactions ensured that exporters were able to offer their goods and services on open account terms in an environment characterized by heightened risk.
MDBs have also set up several programs which provide risk mitigation mechanisms to both issuing and confirming banks and allow for rapid endorsement of letters of credit - the main instrument used to finance trade transactions.
As the global financial institutions are cutting down their lines of credit for trade, the supply for trade finance support from MDBs has witnessed an increase. An analysis of trade finance facilities of MDBs indicate that the trade finance programs of major MDBs supported nearly 110 billion dollar worth of transactions in 2016.
The Study also deliberates upon the prospects for cooperation by way of new initiatives such as establishment of regional trade finance facilities, and regional financing mechanisms like an Asian Exim Bank, while suitably leveraging emerging technology platforms such as blockchain to augment the availability and reduce the cost of trade finance.
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