The Asian Development Bank (ADB) announced the winners of its third annual Trade Finance Program (TFP) Awards at a dinner held on 5 September in Singapore. More than 150 guests from banks and other financial institutions around the world attended the event.
The TFP Awards recognized 18 leading partner banks from 17 countries. In addition, TFP introduced new award categories, including Trade Deal of the Year, Best SME Trade Deal, Most Progressive Bank on Gender Strategy, and Supply Chain Finance Partner of the Year.
“Without our partner banks, ADB’s Trade Finance Program would not close over $3 billion a year in trade finance market gaps,” said Steven Beck, Head of Trade Finance at ADB. “These awards are a great opportunity to recognize and thank our partners for the work they do to provide finance to companies, which helps create growth and jobs”.
The TFP Awards and Partners Dinner was held on the first day of the Global Trade Review’s annual conference in Singapore — GTR Asia Trade and Treasury Week 2017 — considered one of the most attended trade finance conferences in Asia. During the, ADB launched its 2017 Trade Finance Gaps, Growth, and Jobs study, which quantifies global market gaps for trade finance and their impact on growth and jobs. For information on the study, please see news release.
TFP provides guarantees and loans to over 200 partner banks to support trade. Backed by ADB’s AAA credit rating, the program works with over 200 partner banks to provide companies with the financial support they need to engage in import and export activities.
Since 2009, ADB’s TFP has supported more than 10,900 small and medium-sized businesses across developing Asia — through over 16,000 transactions valued at over $28.5 billion — in sectors ranging from commodities and capital goods, to medical supplies and consumer goods.
For more information, visit the TFP website: http://www.adb.org/tfp
The full list of winners:
Leading Partner Bank in Armenia – Armenian Economy Development Bank OJSC
Leading Partner Bank in Bangladesh – Dutch-Bangla Bank Limited
Leading Partner Bank in Cambodia – ACLEDA Bank PLC
Leading Partner Bank in Georgia – TBC Bank
Leading Partner Bank in Indonesia – Lembaga Pembiayaan Ekspor Indonesia (Indonesian Eximbank)
Leading Partner Bank in Kazakhstan – Tsesnabank JSC
Leading Partner Bank in the Kyrgyz Republic – Demir Kyrgyz International Bank CJSC
Leading Partner Bank in Mongolia – Trade and Development Bank of Mongolia
Leading Partner Bank in Myanmar – United Amara Bank Limited
Leading Partner Bank in Nepal – Himalayan Bank Limited
Leading Partner Bank in Pakistan – Bank Al Habib Limited
Leading Partner Bank in Samoa – Samoa Commercial Bank Limited
Leading Partner Bank in Sri Lanka – Bank of Ceylon
Leading Partner Bank in Tajikistan – OJSC Bank Eskhata
Leading Partner Bank in Uzbekistan – OJSC Bank Hamkorbank
Leading Partner Bank in Viet Nam – JSC Bank for Investment and Development of Vietnam
Leading Confirming Bank – JPMorgan Chase Bank, N.A.
Leading SME Trade Bank – Vietnam International Commercial Joint Stock Bank
Trade Deal of the Year – Standard Chartered Bank
Issuing Bank Trade Deal of the Year – National Bank of Pakistan
Best SME Deal – Habib Metropolitan Bank Limited
Supply Chain Finance Partner of the Year – Standard Chartered Bank
Most Progressive Bank on Gender Strategy – BRAC Bank Limited
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.
Original source: ADB.
Posted on 6 September 2017.
