Global Trade Finance Gap Reaches $1.6 Trillion, SMEs Hardest Hit, ADB study
The inability of financial institutions to provide $1.6 trillion in support to buyers and sellers of goods across countries resulted in forgone growth and job creation in 2015, according to an Asian Development Bank (ADB) Brief released today. Developing Asia’s share of the global trade finance gap was $692 billion, including India and the People’s Republic of China.?
In its new study, 2016 Trade Finance Gaps, Growth, and Jobs Survey, ADB quantifies market gaps for trade finance and explores their impact on growth and jobs through a survey of over 337 banks in 114 countries and 791 firms in 96 countries. The annual survey is now in its fourth year.
Photo: Small- and medium-sized enterprises (SMEs) face the greatest obstacles in accessing affordable trade financing (Credit: ADB) https://adalidda.net/posts/C5yNhoKShnohLpteD/global-trade-finance-gap-reaches-usd1-6-trillion-smes