TASHKENT, UZBEKISTAN (23 November 2016) — The Asian Development Bank’s (ADB) Trade Finance Program (TFP) launched a two-day workshop for trade finance professionals in Tashkent. A total of 48 participants representing 36 banks from seven Central Asia and Caucasus countries are attending.
In addition to ADB, experts from the International Chamber of Commerce, SWIFT, and some of the leading international TFP banks — including Commerzbank AG and ABN AMRO Bank N.V. — will be presenting on a wide range of topics impacting the banking sector.
“This workshop is a great opportunity for bankers in the region to get to know each other, exchange ideas, and discuss how to increase support for cross border trade both within the region and internationally,” said Steven Beck, head of trade finance at ADB.
The two-day workshop covers topics ranging from fundamental concepts of trade finance operations to the latest trends in trade and supply chain finance. Financial crime compliance and the latest advances in financial technologies, such as ‘blockchain’ technology, will also be discussed. “ADB’s TFP aims not only to provide more guarantees and loans to support trade, but also to build capacity among our partner banks,” said Nana Khurodze, TFP relationship manager for Central Asia and Caucasus.
TFP complements its financial support with a regular series of workshops and seminars to increase knowledge and expertise in trade finance products and operations, risk management, and fraud prevention.
Backed by ADB's AAA credit rating, TFP provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia to engage in import and export activities. With dedicated trade finance specialists and a 24-hour response time, the program has established itself as a key partner in the international trade community, providing fast, reliable, and responsive support to fill gaps in the region’s most challenging markets.
Since 2009, TFP has supported more than 8,200 small and medium-sized businesses across developing Asia — through over 11,800 transactions valued at over $23.6 billion — in sectors ranging from commodities and capital goods, to medical supplies and consumer goods.
For more information, visit the TFP website: http://www.adb.org/tfp
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.