The Asian Development Bank (ADB) has targeted Bangladesh as its next country to roll out its supply chain trade finance programme (SCFP).
Edward Faber, relationship manager of the bank’s trade finance programme (TFP), says to GTR: “In addition to the well-established TFP, ADB is in the process of rolling out a SCFP throughout Asia.
“TFP has been very active in Bangladesh. It is one of our most active markets. Since 2009, TFP supported over 835 transactions valued at US$1.5bn in Bangladesh. It’s an exciting and dynamic market with even more potential. In addition to maintaining active TFP operations, we look forward to rolling out the SCFP in Bangladesh over the next several months. Through the SCFP, ADB will be able to provide even more support to Bangladesh’s trade sector.”
Faber adds that most of its support under the SCFP will be targeted at SMEs.
The Manila-based bank said in its Bangladesh Quarterly Economic Update report that the country attained a GDP growth of 6.1% in 2013-14, slightly higher than the previous fiscal year’s 6%.