Standard Chartered, OPEC Fund to improve trade finance programme

Tuesday 22 March 2022 10:12 CET | News

Standard Chartered and the OPEC Fund for International Development have partnered to improve their existing Trade Finance Portfolio Risk Participation Programme.

The programme will help facilitate trade flows of over USD 1 billion annually across Asia, the Middle East, Latin America, and Africa. The improved risk participation programme will drive trade flows and encourage increased trade financing in emerging and developing economies. By improving trade capacity, the facility will further narrow the global trade finance gap – estimated to be USD 1.7 trillion in 20201 – at a time when economies around the world are recovering from the COVID-19 pandemic and coping with supply chain disruptions. 

The Trade Finance Portfolio Risk Participation Programme has been in place for over 10 years and builds on Standard Chartered’s presence in emerging markets and trade finance capabilities, as well as OPEC Fund’s commitment to improve the availability of trade finance in some of the most challenging credit markets.

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Keywords: partnership, trade finance, COVID-19
Categories: Banking & Fintech
Countries: Africa, Asia, Latin America, Middle East
This article is part of category

Banking & Fintech

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