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BNY Mellon joins Asian Development Banks Trade Finance Program

Thursday 2 November 2017 11:17 CET | News

BNY Mellon has become a partner bank in the Asian Development Bank’s (ADB) Trade Finance Program (TFP).

The agreement covers a range of trade finance instruments, including loans and guarantees, and will allow BNY Mellon to continue its growth in Asian trade services by facilitating support to a wider range of customers, including small and medium-sized enterprises (SMEs).

Backed by the ADB’s AAA credit rating, the TFP enables companies throughout Asia to engage in import and export activities through the provision of loans and guarantees by ADB’s partner banks. Since 2009, the program has supported over 9,200 SMEs across developing Asia. Sectors range from commodities and capital goods, to medical supplies and consumer goods.


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Keywords: BNY Mellon, Asian Development Bank, Trade Finance Program, agreement, SMEs
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce