IDB, ADB to Share Networks to Promote South-South Trade Flows

News Release | 4 June 2009

MANILA, PHILIPPINES - ADB and the Inter-American Development Bank (IDB) have agreed to share access to their trade finance programs, linking more than 100 financial institutions to support trade between companies in Asia and the Pacific and Latin America and the Caribbean.

Banks are important export-import intermediaries, so the agreement to link financial institutions that participate in the ADB and IDB Trade Finance Facilitation Programs should bolster trade, hitherto very low, between their respective regions. In turn, increased commercial flows will provide a foundation for further economic growth, job creation and poverty reduction.