Trade Finance Program. Steven Beck Head of Trade Finance
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1 Trade Finance Program Steven Beck Head of Trade Finance
2 TFP and Its Objectives ADB s Trade Finance Program (TFP) provides guarantees and loans through banks to support trade. over 200 partner banks guarantees and loans in 24 hours What are TFP Objectives? Fill market gaps Make itself redundant
3 Market Gaps in Trade Finance ADB Trade Finance Survey (4 th Quarter, 2012) assessed gaps and links to production and jobs Key Findings Trade finance gaps Unmet global trade finance demand: $1.6 trillion of which $425 billion in developing Asia 5% trade finance increase would equal 2% production increase 2% more jobs
4 Market Gaps in Trade Finance Reasons: 1. Low country ratings 2. Weak banks in dev. countries 3. Basel guidelines/regulatory requirements FT article: Europe s biggest banks to cut 661bn of assets and find 47bn of fresh capital over the next five years. Overall, the region s banks need to shed 3.2tn in assets by 2018 to comply with Basel III KYC/AML 4. Deleveraging + Basel = new normal
5 Results Value of Transactions Supported Value of Transactions to 2012 In mns $4,000 $3,523 $4,000 $3,200 $2,765 $2,400 $1,896 $1,600 $800 $- $7 $31 $18 $64 $
6 Sample transactions supported by TFP Counter-Guarantee Importer: Azerbaijan Exporter: Germany Confirming bank: Germany Product: Capital equipment for drying fruits Value: $600,000 USD Cover: 100% Counter-Guarantee Importer: Bangladesh Exporter: Hong Kong, PRC Confirming bank: Shenzhen, PRC Product: Telecommunications equipment Value: $16 million USD Cover: 50% Pre-Export Financing Who: Bank based in Colombo, Sri Lanka Revolving Credit Facility: $6 million USD On-lend value: $250,000 Purpose: Pre-export finance Beneficiary: SME apparel manufacturer Location: Mawathagama Export markets: Europe, India, Russia. Export goods: Finished garments Trade Loan Importer: Viet Nam Exporter: Singapore Confirming bank: USA Product: Dump trucks and excavators Value: $5 million USD Cover: 100%
7 90 Dev. Country Banks in 18 Countries Uzbekistan Kazakhstan Azerbaijan Kyrgyzstan Mongolia Nepal Georgia Bhutan Armenia Tajikistan Vietnam Philippines Afghanistan Pakistan Sri Lanka Bangladesh Indonesia Cambodia
8 TFP Geographic Overview TFP focused on most challenging countries. Assumes no PRC, Indian, Thai, or Malay risk. Top Six Countries in 2012: Viet Nam Pakistan Bangladesh Sri Lanka Mongolia Uzbekistan
9 High Development Impact 2,032 No. of Transactions 1,803 1,577 1,366 1, Trade transactions Intraregional trade SMEs supported
10 TFP Works to Make Itself Redundant Crowding-in banks and insurance: TFP attracted $2.3 billion co-financing in 2012 Providing guarantees leads banks into new markets: concrete examples Filling data gap. ICC-ADB Trade Finance Register: proof to regulators and private sector of low risk
11 Development Impact of Knowledge Market wants knowledge TFP filling knowledge gap International banks introduced to new markets and establishing country and bank/correspondent limits
12 Collaboration for South-South Trade TFP promoting south-south trade TFP works with other multilateral development banks
13 Market Recognition 2012, 2011 and 2010 winner
14 Visit our website:
15 ADB and Supply Chain Finance ADB new Supply Chain Finance (SCF) Program approved November Currently being implemented. Vast improvements in physical supply chain ( just-in-time ; inventory innovations, etc.), but not in financial supply chain. Valuable financial resources locked in supply chain. SME growth is constrained. Program will broaden access to working capital for companies to support business expansion and job creation. Differs from the TFP: (i) company risk, not bank risk; (ii) open account trade, not documentary trade; (iii) will support SMEs that may never had access to finance. Basic Supply Chain Illustration Flows are either cross-border or domestic Suppliers Anchor Distributors Supplier Finance Distributor finance Source: Asian Development Bank.
16 ADB and Supply Chain Finance Risk assessment is not based on SMEs traditional Achilles heel: collateral and financials Funding and guarantees days SCF to work through banks on a 50/50 basis.
17 Thank you
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