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ICC Banking Commission launches working group on digitalisation of trade finance
The ICC Banking Commission has launched a working group to coordinate all work relating to
the digitalisation of trade finance. The group aims to help the trade finance industry accelerate
its progress towards greater digitalisation.
The trade finance industry is undergoing a massive transformation – from time-consuming and
cumbersome manual processes involving paper-based instruments such as Letters of Credit to
an automated and digitised future.
TRADE & COMMODITY FINANCE NEWS UPDATE
AROUND THE WORLD Adam Smith Blog | June 7, 2017
Source: https://iccwbo.org/media-wall/news-speeches/icc-banking-commission-launches-working-group-digitalisation-trade-finance/

Maersk ventures into trade finance
To make overseas exports easier for Indian companies, especially SMEs, Denmark-based AP
Moller – Maersk, one of the largest container shipping companies globally, has set up a new
business vertical, Maersk Trade Finance.
In a nutshell, Maersk Trade Finance is a digital platform with pre-shipment and post shipment
credit facilities. It enables exporters – manufacturers or traders – to not only get the cargo
shipping services online but also apply for funds that can be used either to pay for the
shipment
or to invest in new orders
Source: http://www.thehindubusinessline.com/economy/logistics/maersk/article9717910.ece

International Chamber of Commerce calls for UN action to address S$1.6 trillion
trade finance gap in SMEs globally
The International Chamber of Commerce (ICC) has called for action from United Nations to
address the US$1.6 trillion trade finance gap in the Small and Medium Enterprise (SME)
sector
globally.
Highlighting that short-term financing is an essential tool to support small business growth
and sustainability, ICC said yet a growing trade finance shortfall hurts companies and
countries that need it the most.
World trade relies heavily on reliable sources of financing—both long-term (for capital
investments) and short-term. The latter—commonly referred to as “trade finance”—is the basis
on which a significant proportion of world trade operates.
Source:
http://knnindia.co.in/news/newsdetails/global/international-chamber-of-commerce-calls-for-un-action-to-address-s16-trillion-trade-finance-gap-in-smes

Belarusbank seals deal with EDB on $40m loan for trade financing
The Eurasian Development Bank (EDB) and ASB Belarusbank signed an agreement on
financing foreign trade operations of Belarusbank clients in the EDB member states, BelTA
learned from the EDB official website. The relevant agreement was signed by EDB Managing
Director for Assets and Liabilities Dmitry Ladikov-Royev and ASB Belarusbank Executive
Director Viktor Perepelitsa, the post on the website reads.
Source: http://eng.belta.by/economics/view/belarusbank-seals-deal-with-edb-on-40m-loan-for-trade-financing-102073-2017/

Chinese Banks Pained By Shifting Position In Global Trade Finance
China’s corporate banking sector is getting hit with a bit of a setback as more companies look
outside China for supply chain financing.
New research from East and Partners, released this week, discovered that CFOs the world
over are changing their supply chain financing practices as they plan to reduce the number of
banks from which they access this type of financing. Currently, companies surveyed use an
average of 14 supply chain financing banks, researchers said.
Source: http://www.pymnts.com/news/2017/china-corporate-banking-supply-chain-trade-finance/

ADB seals first trade finance deal in Fiji
The Asian Development Bank (ADB) has signed its first trade finance deals in Fiji, with two
agreements with the Home Finance Company (HFC Bank).
A revolving credit facility and a credit guarantee facility are worth a combined US$4mn and
will help HFC support local exporters in key areas such as sugar, copra and other agricultural
goods.
Source: http://www.gtreview.com/news/asia/adb-seals-first-trade-finance-deal-in-fiji/

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