Citi to Become Risk-Sharing Partner Under ADB's Trade Program

MANILA, PHILIPPINES - Asian Development Bank (ADB) and Citi have signed a risk-sharing pact that could provide over $1.5 billion through to 2013 to support trade in developing Asia.

Under the Risk Participation Agreement, part of ADB's recently expanded Trade Finance Facilitation Program, ADB and Citi will share the risk on trade finance advanced to exporters and importers in frontier markets in Asia. The agreement comes at a time when the global financial crisis has significantly slowed the supply of trade finance, in particular to emerging market countries.

Read the full news release.